ZURICH (Reuters) - Swiss Re has agreed to buy 1.1 million life insurance policies from Legal & General Group (LON:LGEN) (L&G) for 650 million pounds, the Swiss group said on Wednesday.
"This move is consistent with Swiss Re's strategy to acquire closed life books in the UK. The policies – which include with-profit, unit-linked and savings products – will be transferred to ReAssure from Legal & General Assurance Society Limited, which is part of the L&G Group," it said in a statement.