Swiss Re purchases Guardian Financial Services for 2.48 billion USD

The reinsurer Swiss Re has announced the acquisition of Guardian Financial Services by its division Admin Re for an amount of 2.48 billion USD. The finalization of the operation within the British investment fund Cinven is scheduled for early 2016.

This acquisition will allow the increase of Admin Re portfolio in the UK and Ireland. If all goes as planned, this life insurance specialist will be able to manage 4 million insurance policies in that area, that is 900 000 policies more than the current ones.

Thanks to this acquisition, Swiss Re expects to generate a flow of 1.7 billion USD by Admin Re in the next three years. In addition, the Swiss reinsurer predicts a 15% increase in assets under management for the whole group.