Swiss Re sells its stake in New China Life Insurance

Swiss Re is definitively leaving the capital of New China Life Insurance. The transaction is worth 2.3 billion HKD (296.41 million USD).

In 2013, Swiss Re had acquired 4.9% of the Chinese insurer's capital. The reinsurer then sold almost half of its stake for a sum of 3.55 billion HKD (457.5 million USD).

Swiss Re has not provided any explanation regarding the sale of its stake.