Quilter said to consider sale of closed-book UK life insurance portfolio

Wealth manager Quilter is said to be considering a sale of its closed-book UK life insurance portfolio.

According to Bloomberg, Swiss Re's UK unit Reassure Group and Phoenix Group Holdings are among those considering bids. It was understood that the assets could fetch about $500m.

People familiar with the matter told Bloomberg that no final decisions have been made and there's no certainty that the deliberations will lead to a sale.

At 1020 BST, the shares were up 0.8% at 138.92p.