CPPIB to fund Wilton Re's buy of Canadian life insurer for $600 mln
Wilton Re Ltd has agreed to purchase the majority of Dutch insurer Aegon N.V.'s operations in Canada for $600 million. The assets to be acquired consist of Toronto-based life insurance provider Transamerica Life Canada and a number of affiliated businesses active in the Canadian market. The deal, which is expected to be closed in the first quarter of 2015, is being supported by equity funding from Canada Pension Plan Investment Board (CPPIB), which acquired the Bermuda-based Wilton Re for US$1.8 billion earlier in 2014. The company said the Transamerica Canada acquisition aligns with its strategy to provide risk and capital solutions to clients throughout North America.
16 October 2014•3 mins read
