NU Online News Service, Feb. 5, 2004, 5:52 p.m. EST – Swiss Re Life & Health America Inc., Stamford, Conn., has agreed to pay $690 million in cash for the individual life insurance business of CNA Financial Corp., Chicago.[@@]
Swiss Re Life will be getting a large block of in-force business along with CNA's life insurance administration offices in Nashville, Tenn.
Swiss Re Life estimates the 1 million life policies and annuity contracts in the block have about $3 billion in assets and generate about $440 million in annual premium revenue.
