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Swiss Re halts flotation of ReAssure life insurance11 Jul 4:41am

Swiss Re halts flotation of ReAssure life insurance

The Guardian
Investors were put off by £3.3bn valuation following recent IPO flops and uncertainty of no-deal Brexit Swiss Re has postponed the flotation of its UK zombie life insurance business after investors unsettled by overhyped share offers and the prospect of a no-deal Brexit refused to accept the company’s valuation of up to £3.3bn. The Swiss insurer announced the initial public offering of ReAssure in June after months of speculation about a flotation. Shares totalling 26% of the company were due to start trading on Thursday but Swiss Re cancelled the sale blaming weak demand for UK listings.
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