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May 2014 Swiss Re has announced the upcoming acquisition of 2.35 billion USD of assets in units of account from the British HSBC.
The Swiss reinsurer, which will make the transaction via Admin Re, its subsidiary specialized in the acquisition of closed life insurance portfolios, will also take possession of 400 000 policies of individual and collective insurance.
The transaction, waiting approval of the competition authorities, will be finalized in the second half of 2015.