Winterhur Insurance Group, a subsidiary of credit Swiss/First Boston, has agreed to pay £332 million ($515 million) for the British insurance and pension business of Colonial, an Australian insurer, which has been seeking a buyer for its U.K. investment.
Winterhur will retain Colonial as the manager of its approximately £3.5 billion investment portfolio, and will gain an additional 380,000 customers.
Was this article valuable?
Here are more articles you may enjoy.
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
‘Structural Shift’ Occurring in California Surplus Lines 
Florida Insurance Costs 14.5% Lower Than Without Reforms, Report Finds 
Experian Launches Insurance Marketplace App on ChatGPT 
