UK life assurance business ReAssure will be valued at up to 3.3 billion pounds (...
ZURICH - UK life assurance business ReAssure will be valued at up to 3.3 billion pounds when it floats on the London Stock Exchange, its largest shareholder Swiss Re said on Thursday.
Zurich-based Swiss Re is spinning off ReAssure to put the business under a more favorable regulatory regime and give it easier access to capital to fund its expansion. Swiss Re said the IPO prospectus is due to be published later on Thursday, pending approval from Britain’s Financial Conduct Authority.
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