9 December 2021
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.
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