(Adds reaction from Swiss Re; refiled to delete extraneous
article 'a' in first sentence)
Aug 19 Hong Kong-listed conglomerate Fosun
International Ltd is in talks to buy Swiss Re AG's
U.S. life insurance arm in a possible deal worth $400
million to $500 million, Bloomberg reported on Monday, citing
people familiar with the matter.
However, an agreement to buy the company, Aurora National
Life Assurance Co, had not yet been reached and could still fall
through, Bloomberg said. (bloom.bg/1ldMBlS)
Fosun International is the parent company of Fosun Group,
backed by Chinese billionaire Guo Guangchang.
Bermuda-based reinsurer Wilton Re Holdings Ltd, backed by
Canada Pension Plan Investment Board, had also expressed an
interest in Aurora, Bloomberg said, citing one person.
Swiss Re, the world's second largest reinsurer, hired
Barclays last year to sell Aurora, it said.
A spokeswoman for Swiss Re declined to comment on the report
on Tuesday, but pointed to a statement the reinsurer made in
2012, in which it said it was considering all options for
Aurora, part of the portfolio it retained from its U.S. Admin Re
business, including the option of a sale.
Representatives for Fosun International and Wilton Re could
not immediately be reached for comment.
(Reporting by Karen Rebelo in Bangalore, additional reporting
by Alice Baghdjian in Zurich; Editing by Cynthia Osterman and