Swiss Re to buy L&G's mature savings unit for £650M
December 07, 2017
Life and Health Insurance | London, UK | Corporate Acquisition
Legal & General has agreed to sell its mature savings business to Swiss Re for £650 million. The unit consists of 1.1 million life insurance policies, and will be managed by the company's ReAssure division. The mature savings arm generated £105 million in operating profits in 2016.