Swiss Re sets sights on Lincoln Re

Swiss Re is set to buy US insurer Lincoln National Corporation’s reinsurance business, Lincoln Re, for $2bn, consolidating its position as a market leader in the world’s largest life and health reinsurance market. To finance the deal, which is expected to close in the fourth quarter of this year, Swiss Re, the world’s second biggest reinsurer, intends to raise equity, but will not provide more details until it’s half-year results are released on September 7.