MONTE CARLO, Monaco Swiss Re's specialist unit Admin Re is in discussions with a number of sellers of closed life books, some of them "significant" in size, Chief Financial Officer David Cole said on Monday.
"There is an interesting pipeline of opportunities, we do see interesting discussions we are having with potential vendors," he told Reuters in an interview on the sidelines of the reinsurance industry's annual meeting in Monte Carlo.
Cole did not give more detail on the size of the books, but pointed to Admin Re's purchase last year of Guardian Financial Services for 1.6 billion pounds ($2.12 billion), as an example of how big such deals could be.
Admin Re was focusing on UK transactions but could be open to European deals, Cole said. He said Admin Re was also open to co-investors but "it's not something we have to do".
Cole declined to comment on whether Admin Re was bidding for Deutsche Bank's UK closed life business Abbey Life.
(Reporting by Carolyn Cohn; editing by Brenna Hughes Neghaiwi and John Revill)