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Tag: Rothesay

Rothesay Life gatecrashes £3.5bn Swiss Re IPO

Rothesay Life gatecrashes £3.5bn Swiss Re IPO

Business
Rothesay Life, the specialist insurer, is plotting a £3.5bn takeover of a division of Swiss Re that would derail plans for a stock market listing. Sky News has learnt that Rothesay approached Swiss Re several weeks ago about a deal to buy ReAssure, the UK arm of Swiss Re which manages the closed books of life assurance companies.The status of the talks between the two parties was unclear on Friday, although sources said that Rothesay was serious about making a formal offer for ReAssure in the coming months.Swiss Re announced last summer that it would pursue a stock market listing for ReAssure, arguing that it did not fit with its main reinsurance business.However, difficult equity market conditions have alerted potential bidders to the possibility of persuading Swiss ...