UK wealth manager St. James’s Place Capital is ridding itself of a stake in a life assurance company that contributed to it posting a loss in 2002, the company said on Thursday. St. James’s Place is selling its 23 percent stake in Life Assurance Holding Corp. to Swiss Re for a total 78.2 million pounds ($141.8 million) and will report a profit of 28 million from the sale, the British company said in a statement. The sale was part of a deal by LAHC shareholders to sell the firm to Swiss Re, the world’s number two reinsurer, for 333.1 million pounds before costs. LAHC was set up in 1994 to buy and manage closed life insurance funds.
St James’s Place Sells Life Company To Swiss Re
UK wealth manager St. James's Place Capital is ridding itself of a stake in a life assurance company that contributed to it posting a loss in 2002, the company said on Thursday. St. James's Place is selling its 23 percent
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