Swiss Re in talks to by Barclays life arm
Reinsurance giant Swiss Re is in talks to buy the life assurance arm of British bank Barclays, The Sunday Times said.
The report said Swiss Re was conducting due diligence on the division, which has more than ÂŁ7 billion under management but closed to new business in 2001. Barclays declined to comment. It has said in the past it is reviewing its options for the division, which the newspaper said could be worth anything from ÂŁ400 million to ÂŁ750 million.
Barclays secured a £4.5 billion (€5.7 billion) fundraising package earlier this month as it rebuilds its balance sheet, drawn largely from Qatari and Asian investors. (Reuters)
ADVERTISEMENT
New Tenant in Wing’s Hungária Office Park Development
BKK Steps up Airport Shuttle Bus Service
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
