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BRIEF-Legal & General Group to sell mature savings business to Swiss Re
December 6, 2017 / 7:11 AM / in 7 days

BRIEF-Legal & General Group to sell mature savings business to Swiss Re

Dec 6 (Reuters) - Legal & General Group Plc:

* LEGAL & GENERAL GRP - L&G HAS REACHED AGREEMENT TO SELL ITS MATURE SAVINGS BUSINESS TO REASSURE DIVISION OF SWISS RE LTD (“SWISS RE”) FOR 650 MILLION POUNDS​

* SAYS ‍BUSINESS BEING SOLD COMPRISES PRINCIPALLY RETAIL CUSTOMERS WHO HOLD TRADITIONAL INSURANCE BASED PENSIONS, SAVINGS AND INVESTMENT PRODUCTS​

* EXPECTS FORMAL TRANSFER OF BUSINESS WILL BE COMPLETED IN MID-2019​

* Source text for Eikon: Further company coverage: (Reporting by Clara Denina)

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