The health insurance and protection market covered
Swiss Re buys 300K policies from Alico
Giant re-insurer Swiss Re will buy 300,000 in-force life policies from American Life Insurance Company (Alico).
The acquisition brings £1.6bn in assets to Swiss Re via Admin Re, the vehicle it uses to buy closed books of business.
This deal is the latest in a string of over 50 purchases by Admin Re since 1998. The business buys up closed book business to provide the re-insurer with a diversified income stream.
"This transaction meets Admin Re's rigorous assessment criteria and confirms our commitment to being a recognised force in the closed life book business," said David Blumer, chairman of Admin Re.
MetLife bought Alico for £10.3bn in March 2010.
Email alert
Video
For all the latest news and views from COVER
Disease of the Month
Coffee Lounge
Advertisment
Email alert
Register for the COVER newsletter today
Stay up to date with all the latest news, product development and changes happening within the protection and health insurance market.
Print Edition
Cover - everything you need to know about the protection and health insurance market
All of the latest news and features on all aspects of the protection and health insurance market are available from our print edition.
IFAonline Jobs
IFAonlinejobs will open the right investment career path for you. Search hundreds of vacancies now.
Advertisment
Events
Business Protection Breakfast Briefing
25 Apr 2012- 25 Apr 2012
On Air Studio, 32-34 Broadwick Street, London, W1F 8JB
Visitor Comment
Add your comment
Add your comment