Swiss Re's ReAssure Group completed the acquisition of the life insurance and pension unit of Quilter for £425m.

Swiss Re's ReAssure Group, a UK closed book life insurance consolidator, completed the acquisition of the life insurance and pension unit of Quilter, a financial services company, for £425m ($517m). "I am delighted to announce our latest acquisition. We have a long history of value creating transactions and today's announcement is further evidence of our ability to grow our business," Mark Hodges, ReAssure Chief Executive Officer.