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23

Swiss Re to Buy Guardian Financial Services for $2.5 Billion

By Tony Seruga

LONDON — The reinsurance provider Swiss Re said on Wednesday that it had agreed to acquire Guardian Financial Services from the European private equity firm Cinven for 1.6 billion pounds, or about $2.5 billion.

The deal for Guardian Holdings Europe, which operates under the Guardian Financial Services name, is expected to increase and diversify the business of the Swiss reinsurer’s Admin Re unit.

The transaction will add 900,000 annuity, life insurance and pension policies in Britain and Ireland, giving Admin Re more than four million policies in total…

Swiss Re to Buy Guardian Financial Services for $2.5 Billion

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