Swiss Re sells Aurora to Reinsurance Group of America

Swiss Re announced the cession of Aurora National Life Assurance Company, its American subsidiary, to Reinsurance Group of America (RGA).

The operation, which should be finalised by early 2015 for an undisclosed amount, is awaiting approval of market authorities.

Aurora's sale concluded, for Swiss Re, the dismantling of Admin Re's old activities in the United States, after the sale of Reassure America Life Insurance Company (REALIC) in 2012.

Note that Aurora's portofolio is composed of 82 000 policies, according to the Swiss insurer.