Ascot sale on the cards, as CPP Investments eyes exit from insurance
Ascot Group owner the Canada Pension Plan Investment Board is seeking to sell its insurance assets, Reuters reports. A “strategic U-turn” will see it exit both the Bermuda-domiciled re/insurer and Connecticut-headquartered Wilton Re.
According to reports, it is preparing to launch the sale processes in the new year, with Wilton Re valued at more than $4 billion.
The report’s source stresses that no deal is certain for either business, however, and both re/insurers have declined to comment.