06-12-2019
Reinsurer Swiss Re has agreed to sell its subsidiary ReAssure Group to Phoenix Group Holdings. As part of the agreement, which values ReAssure at £3.25 billion ($4.28 billion), Swiss Re will receive a cash payment of £1.2 billion, shares in Phoenix representing a 13 percent to 17 percent stake and be entitled to a seat on its board of directors.
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Swiss Re, ReAssure, Phoenix group, Mergers & Acquisition, Insurance, Reinsurance, Christian Mumenthaler, Europe
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