Prudential buying U.S. business from Swiss Re

HONG KONG (Reuters)—Britain's No.1 insurer Prudential P.L.C. on Thursday said it will buy SRLC America Holding Corp. from Swiss Re A.G. for 398 million pounds in cash.

It said the purchase would be made through Prudential's U.S. subsidiary, Jackson National Life Insurance Co.

Trading in Hong Kong-listed shares of Prudential was suspended earlier on Thursday pending the release of price-sensitive information, the Hong Kong stock exchange said.

Prudential last closed down 1.6% at HK$82.80 in Hong Kong and its London-listed shares closed down 3% at 673 pence.