🍀Insurance News & Analysis
MS&AD Insurance Completes Initial Acquisition of UK’s ReAssure Jersey One
MS&AD Insurance Group Holdings Inc. has completed the acquisition of 13.2% of the outstanding shares of ReAssure Jersey One Ltd., according to a statement from the Japanese group.
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MS&AD secures 13.2% of Swiss Re’s ReAssure.
The Japanese insurance giant MS&AD has bought 13.2 percent in Swiss Re’s ReAssure after announcing a deal for up to 15 percent of the life reinsurance vehicle in October.
MS&AD spent £330mn ($461.2mn) yesterday on an additional 8.2 percent holding as well as £175mn for the initial 5 percent stake it had first announced in October.
MS&AD in October committed to paying up to £800mn within three years for the 15 percent ReAssure stake.
The Insurance Insider
http://m.insuranceinsider.com/ms-and-ad-secures-13.2-percent-of-swiss-re-s-reassure