Nestlé cedes its American life insurance subsidiary Gerber for 1.55 billion USD

Nestlé has ceded its American subsidiary Gerber Life Insurance to Western and Southern Financial Group, whose headquarters is located in Cincinnati (Ohio, USA). The transaction amounts to 1.55 billion USD.

The Swiss group is facing a decline in its sales of food products. He is disposing of its underperforming subsidiaries to embark on new opportunities in its core business.

Read also:

• SCOR acquires almost all of Transamerica Re