Barclays sells Swiss Rе division on life insurance for 1,5 billion dollars
10 August 2008British financial group Barclays Plc sells division on life insurance Barclays Life Assurance Company Ltd Swiss Swiss Re for 753 million pounds sterling (1,5 billion dollars).
With purchase of Barclays Life Assurance Company Ltd. the Swiss company will get about 760 thousand policies of life assurance and pension insurance. The transaction should be completed by November of this year.
The volume of premium Barclays Life makes nearby 350 million pounds year, actives - 6,5 billion pounds.
Swiss Re is the world’s largest reinsurance company and has offices more than in 25 countries of the world.
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