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Swiss Re increasing UK portfolio with £1.6b purchase of Guardian Holdings Europe

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Published Wed, Sep 23, 2015 · 09:50 PM

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Zurich

SWISS Re's business unit Admin Re is acquiring Guardian Holdings Europe Ltd from buyout firm Cinven for £1.6 billion (S$3.5 billion) to increase its portfolio of UK life-insurance policies.

The deal will give Admin Re an additional 900,000 annuity, life insurance and pension policies in the UK and Ireland, and the purchase is expected to be completed early next year, Swiss Re said in a statement on Wednesday.

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