Swiss Re announces the purchase of Sun Alliance Ltd (China)

Swiss Re announced the acquisition of Sun Alliance (China), a subsidiary of RSA Insurance Group, for 122 million USD. This operation, pending regulatory approval, will allow the reinsurer to offer corporate insurance from China.

Swiss Re had already committed to acquire shares in 2013, for 493 million USD in New China Life Insurance and 334 million USD in Sul America SA in Brazil.

The second global reinsurer intensifies its development in fast-growing markets such as China, Indonesia and Brazil to raise the share of premiums in these regions between 20 and 25% by 2015 against 18% in 2013.