Canada Pension Plan to acquire Wilton Re for $1.8B
March 24, 2014 by Katia Dmitrieva and Zachary Tracer
Bloomberg) — Canada Pension Plan Investment Board, the nation’s largest pension fund manager, agreed to buy Wilton Re Holdings Ltd. for $1.8 billion to expand into the life insurance business.
The reinsurer is being acquired from investors including Stone Point Capital, Kelso & Co. and Vestar Capital Partners Inc., the Toronto-based fund manager said today in a statement. The purchase is Canada Pension’s first direct investment in the insurance sector.
Originally Posted at LifeHealthPro on March 21, 2014 by Katia Dmitrieva and Zachary Tracer.
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