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Swiss Re Agrees GBP 800 Mln Minority Investment Into ReAssure By MS&AD

ReAssure, a market-leading UK closed life book consolidator within the Swiss Re Life Capital Business Unit, has reached agreement with MS&AD for an investment into ReAssure of up to 800 million pounds.

MS&AD has agreed to acquire a 5% stake in ReAssure for GBP 175 million, which values ReAssure at 3.5 billion pounds. MS&AD has committed to invest, for up to a three-year period from closing, 800 million pounds in total into the equity of ReAssure, with a maximum shareholding of 15%.

The commitment to invest the additional GBP 625 million will be satisfied through the issuance of primary equity to MS&AD as ReAssure undertakes transactions in the future. Once the 15% shareholding threshold is reached, both Swiss Re and MS&AD will subscribe to any further equity injection into ReAssure on a pro rata basis.

The acquisition of the initial 5% stake is subject to regulatory approval, and closing is expected to occur in the first quarter of 2018. No further regulatory approvals are expected to be required for the additional MS&AD investments.

by RTT Staff Writer

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