Swiss Re considers bidding for Equitable Life

by David Masters

Story link: Swiss Re considers bidding for Equitable Life

The Financial Times has reported that the world’s largest reinsurer, Swiss Re, is considering entering the bidding race for Equitable Life’s £7 billion with profit fund.

If Swiss Re decides to make an offer, it will be up against UK-based life assurer Prudential.

Equitable Life has faced troubled times since 2000 when it was almost forced to declare bankruptcy following an unfavourable High Court ruling.

However, instead of entering into administration, the company closed to new business.

Equitable started inviting takeover offers in March this year as the final part of the ongoing restructuring of the company.