Swiss Re Eyes £3.3B IPO For UK Insurance Unit

Law360 (June 27, 2019, 5:54 PM EDT) -- Swiss Re is shooting for a £3.3 billion ($4.18 billion) valuation for its U.K. life insurance subsidiary ReAssure Group as it goes public, the insurer said Thursday.

The price range for ReAssure Group plc’s initial public offering is set at 280 to 330 pence per share, which would put its market capitalization between £2.8 and £3.3 billion, according to the company’s announcement.

The U.K. life insurance and pension consolidator is expected to make its public debut in July, according to a statement from Swiss Re released June 14.

Swiss Re plans to open 26% of the shares in ReAssure to the...

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