January 4, 2019 / 12:57 PM / 5 months ago

Rothesay Life plans 3.5-bln-pound bid for Swiss Re's UK arm - Sky News

Jan 4 (Reuters) - Insurer Rothesay Life is planning a 3.5-billion-pound bid for a unit of reinsurance company Swiss Re , Sky News reported on Friday, confounding plans to list the British unit in 2019.

Rothesay had approached Swiss Re some weeks back to buy ReAssure, Swiss Re's British closed books division, and would make a formal offer in the coming months, Sky News reported here, citing sources.

London-based Rothesay and Zurich-listed Swiss Re were not immediately available for comment. (Reporting by Muvija M and Michael Shields in Bengaluru)

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