Barclays sells life insurance arm to Swiss Re

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Barclays sells life insurance arm to Swiss Re

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08-05-2008, 11:28 PM

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Barclays sells life insurance arm to Swiss Re

Barclays has improved its balance sheet today after it revealed it has offloaded its life insurance unit to Swiss Re in a deal worth £753 million ($1.48 billion), subject to regulatory approval.Swiss Re is paying £753 million in cash for Barclays Life, which manages £6.8 billion of assets on behalf of 760,000 policyholders. Swiss Re, [...]

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