May 3, 2019 / 7:06 AM / 24 days ago

Swiss Re prepares to float ReAssure business but open to offers

ZURICH, May 3 (Reuters) - Swiss Re is pressing ahead with preparations to float its British closed book ReAssure business but remains open to a last-minute trade sale, finance chief John Dacey told reporters on a call after the Swiss reinsurer reported first-quarter results.

“I never say never to someone coming in at the last moment but at this point of time the IPO is our expected route here,” he said in response to a question.

Swiss Re in August announced it was exploring a possible 2019 initial public offering for ReAssure on the grounds that the business needed access to new capital to acquire additional closed books. (Reporting by Michael Shields. Editing by Jane Merriman)

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