{"id":31181,"date":"2013-11-14T08:32:36","date_gmt":"2013-11-14T07:32:36","guid":{"rendered":"http:\/\/beta.next-finance.net\/news\/swiss-re-and-phoenix-group-announce-termination-of-discussion\/"},"modified":"2013-11-14T08:32:36","modified_gmt":"2013-11-14T07:32:36","slug":"swiss-re-and-phoenix-group-announce-termination-of-discussion","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/news\/swiss-re-and-phoenix-group-announce-termination-of-discussion\/","title":{"rendered":"Swiss Re and Phoenix Group announce termination of discussion"},"content":{"rendered":"<p>Further to the statement on 12 July 2013 by Phoenix Group Holdings regarding its preliminary discussions with Swiss Re Ltd in relation to a possible combination of Phoenix and Swiss Re&#8217;s UK Admin Re\u00ae Business Unit, Swiss Re and Phoenix today confirm that such discussions have terminated as the parties have been unable to agree the terms on which a mutually acceptable transaction could take place. <\/p>\n<p>Admin Re\u00ae will continue to seek to fully establish its franchise value in the UK and Continental Europe and will also continue to actively seek to explore new opportunities that meet Swiss Re\u2019s investment criteria and hurdle rates. Swiss Re remains confident in Admin Re\u00ae&#8217;s ability to contribute to Swiss Re\u2019s financial targets, meet its stated gross cash generation levels and deliver on its strategic aim of being a recognised force in the closed life book business.<\/p>\n<p>Admin Re\u00ae will continue to execute against its business plan, further streamlining its business through management actions targeted at productivity measures and asset re-balancing.<\/p>\n<p>Swiss Re Group&#8217;s capital management plans and priorities are unaffected by this announcement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Admin Re\u00ae will continue to seek to fully establish its franchise value in the UK and Continental Europe and will also continue to actively seek to explore new opportunities&#8230;<\/p>\n","protected":false},"author":20,"featured_media":31179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1671,1888,1651,1437,2082],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/31181"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=31181"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/31181\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/31179"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=31181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=31181"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=31181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}