Swiss Reinsurance will acquire Conning Corp., a MetLife affiliate that specializes in asset management for insurance company investment portfolios and provides private equity, institutional research and mortgage loan services to financial services companies. Terms of the transaction, expected to close midyear, were not disclosed, but a source close to the deal said Swiss Re paid 3% to 4% of Conning’s $20 billion under management. Conning manages about $3 billion for U.S. institutional tax-exempt clients.
Conning will be added to Swiss Re’s Financial Services Business Group.
