Winterhur Insurance Group, a subsidiary of credit Swiss/First Boston, has agreed to pay 拢332 million ($515 million) for the British insurance and pension business of Colonial, an Australian insurer, which has been seeking a buyer for its U.K. investment.
Winterhur will retain Colonial as the manager of its approximately 拢3.5 billion investment portfolio, and will gain an additional 380,000 customers.
Was this article valuable?
Here are more articles you may enjoy.
Intersecting Risks and the Future of Construction Insurance
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing
NAIC Says Data Taken in Hack Has Been Published Online
Ship Insurers Set for Major Claims From Iran War, Allianz Says 

