Swiss Re Shelves £3.3B Insurance Unit IPO Amid Low Demand

Law360, London (July 11, 2019, 12:38 PM BST) -- Swiss Re said on Thursday that it has put the £3.3 billion ($4.1 billion) initial public offering of its British life insurance subsidiary on hold because of lack of demand from larger investors.

Swiss Re has said it is suspending the £3.3 billion ($4.1 billion) flotation of a British subsidiary because of “heightened caution and weaker underlying demand.” (AP) The Zurich-based reinsurance group announced it is suspending the flotation of ReAssure Group on the day the unit was due to go public. The planned launch was scrapped because of “heightened caution and weaker underlying demand” from large institutional investors in the...

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