NU Online News Service, June 15, 2:44 p.m. EDT
Zurich Financial Services Group says that one of its non-core subsidiaries in the United Kingdom, Zurich Specialties London Ltd, will transfer its runoff insurance business to Swiss Re at book value.
Zurich says the transaction is part of its strategy to divest most of its non-core businesses in order to release and redeploy $1.5 billion of capital and focus on its chosen target markets.
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