MS&AD to acquire 15% stake in Swiss Re's ReAssure

Japanese insurer MS&AD Insurance Group Holdings has agreed
to invest up to £800mn ($1.04bn) in Swiss Re's UK closed
life book consolidator ReAssure.
The investment will be made over a three-year period, and will
give MS&AD a maximum shareholding of 15 percent.
MS&AD has initially taken a 5 percent stake in the company
for £175mn.
The remaining £625mn investment will be made through share
issuances to MS&AD as ReAssure undertakes transactions in the
future.
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