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Barclays announces sale of Barclays Life to Swiss Re

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  • Barclays announces sale of Barclays Life to Swiss Re

    Barclays Bank PLC ('Barclays') has agreed to sell Barclays Life Assurance Company Limited ('Barclays Life') to Swiss Reinsurance Company (‘Swiss Re’), for a consideration of approximately £753 million payable in cash. The sale is expected to be completed by 31 October 2008, after receipt of appropriate regulatory approvals.

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