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Swiss Re announces suspension of ReAssure’s IPO due to market conditions

Swiss Re announced today the suspension of its previously communicated plans for an initial public offering (IPO) of ReAssure. This action is in response to the heightened caution and weaker underlying demand in the UK primary market from large institutional investors.

Swiss Re’s Group Chief Financial Officer John Dacey said: "While we firmly believe that the long-term interests of ReAssure are best served by a more diversified shareholder base, there has been no pressing need for Swiss Re to divest shares at a price that we consider to be unrepresentative of ReAssure’s value and future prospects. We retain our objective to reduce Swiss Re’s ownership in order to de-consolidate ReAssure. In the meantime, Swiss Re and MS&AD remain fully committed and supportive of ReAssure and its management team, and will participate in future acquisitions in line with their respective shareholdings."

Further public statements will be made if and when appropriate.

Next Finance , July 2019

P.S.

This communication is for informational purposes only as required by the listing rules of the SIX Swiss Exchange. It is not intended to be a recommendation to buy, sell or hold securities and does not constitute an invitation or offer for the sale of, or the solicitation of an offer to buy, securities in any jurisdiction, including the United States.

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