December 20, 2018 / 6:20 AM / 6 months ago

MS&AD to invest further 315 mln pounds in Swiss Re's ReAssure

ZURICH, Dec 20 (Reuters) - Reinsurer Swiss Re has agreed a deal with Japan's MS&AD Insurance Group under which MS&AD will invest a further 315 million pounds ($398.19 million) into Swiss Re's closed book business ReAssure.

The deal will increase MS&AD's stake in ReAssure to 25 percent from currently 15 percent, the world's second-largest reinsurer said on Thursday.

Swiss Re is continuing to work towards a potential IPO of ReAssure during 2019, the Zurich-based firm said. ($1 = 0.7911 pounds) (Reporting by Brenna Hughes Neghaiwi; Editing by Maria Sheahan)

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