Reassure is one of the leading lights of insurance in the City, being Britain’s sixth largest life insurer CHRIS RADBURN/PAAn insurance company is set to join the FTSE 250 when it floats on the London Stock Exchange next month with a value of about £3.6 billion. Reassure, which used to be called Windsor Life, is being partially floated by Swiss Re, the insurer, with the aim of raising new capital so that it can compete in the multibillion-pound market of buying books of life insurance business that are no longer open to new customers. Reassure competes with companies such as Phoenix and Rothesay Life, which specialise in buying closed books, bringing together the administration costs and making a return from managing the enlarged business more efficiently. It estimates that there are £1.5 trillion of life insurance reserves managed on behalf of customers in the…

Source: The Times June 14, 2019 23:04 UTC