22 July 2016 Insurance

Swiss Re refuses to comment on Admin Re rumours

Swiss Re has issued a formal statement saying that it refuses to comment about recent rumours in the market about a possible sale of its minority stake in Admin Re.

The full statement from the company reads: “Swiss Re notes recent media speculation of a possible sale of a minority stake in its Admin Re business. As a matter of policy, Swiss Re does not comment on speculation or market rumours. Swiss Re notes that it has previously communicated that it may partner with minority investors in, or in entities within, its Swiss Re Life Capital business.”

Admin Re is one of Swiss Re's three business units. It acquires closed blocks of in-force life and health insurance business, either through reinsurance or corporate acquisition, and typically assumes responsibility for administering the underlying policies.

There has been past speculation about a possible sale of Admin Re. In November 2013 Swiss Re announced that discussions with Phoenix Group Holdings about a possible sale of Admin Re had been unsuccessful and were being terminated.

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