Swiss Re announced that it has completed its previously announced Admin Re acquisition of CNA Financial Corp.’s individual life insurance business for approximately $700 million.
“The in force business, which will be put into run-off, includes term, universal and permanent life insurance policies and individual annuity products,” said the bulletin.
“The completion of this transaction strengthens our life and health business in North America,” stated Weldon Wilson, CEO of Swiss Re Life & Health America Inc. “The acquisition is consistent with Swiss Re’s strategy to expand our business, specifically in the area of administrative reinsurance, which continues to be an important element of our growth,”
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
25 Years Later: IJ’s Past and Continued Coverage of the Insurance Impact of 9/11 
Baldwin Group to Go Private After $7.7B Investment Deal 
Powerful El Niño Nears Record Strength, US Forecasters Say 
Amazon Seen as Shielded From Liability for Miami Cargo Plane Crash 
