ReAssure listing expected in July
Life insurance group ReAssure, which has its headquarters in Telford, expects to complete its listing on the London Stock Exchange next month.
Swiss Re announced plans to float the £3.6 billion business last week.
The initial public offering would see Swiss Re selling at least 25 per cent of shares in ReAssures to take its holding below 50 per cent.
The aim is to put it under a more favourable regulatory regime and give it easier access to capital needed to fund ReAssure's growth.
ReAssure is applying for admission of its ordinary shares to the premium listing segment of the Official List and to trade on the stock exchange's main market for listed securities.
The price range for the offer and the maximum number of shares to be sold will be contained in the prospectus expected to be published by the company in the coming weeks.
ReAssure – the sixth largest life insurance group in the UK – employs 2,500 across five sites in the UK and is one of the largest employers in Telford where it moved in 1987 as the then Windsor Life Assurance.
The business. which has its headquarters at Windsor House in Telford Town Centre was re-branded as ReAssure in 2011 after becoming part of reinsurer Swiss Re
ReAssure buys and administers closed books of business from other companies and has more than 4.3m policies and looks after investments of more than £68.7 billion for its customers.