Canada Pension Plan Investment Board Completes acquisition of Wilton Re
June 30, 2014
(Wilton, Connecticut) Today, Canada Pension Plan Investment Board (“CPPIB”) completed the acquisition of Wilton Re Limited Holdings (“Wilton Re”) and its subsidiaries for total cash and consideration of US$1.8 billion. The transaction involves the 100% stock acquisition of Wilton Re Holding Limited, a Bermuda insurance holding company and all subsidiaries within the Wilton Re Group, including Wilton Reinsurance Bermuda Limited, Wilton Reassurance Company (MN), Wilton Reassurance Life Company of New York, and Texas Life Insurance Company.
“We are excited to be a part of the CPPIB organization. CPPIB is a strategic owner who is committed to Wilton Re’s business model. As an AAA rated, long-term investor with unparalleled capital resources, CPPIB will position Wilton Re for growth and enhance our service offering to clients and policyholders. Combining Wilton Re’s industry-leading expertise in In Force Solutions and middle market insurance services with the capital resources and ratings strength of CPPIB will further enhance our competitiveness in the market,” said Chris Stroup, Chairman and CEO. “CPPIB is committed to the entrepreneurial approach at Wilton Re and to the firm’s management and employees. The executive team at Wilton Re is investing alongside CPPIB in the transaction, and we expect continuity among the existing management team members.”
There are no anticipated changes to Wilton Re’s sales and service organization. Wilton Re’s operations and policyholder services in Wilton, CT, Nashville, TN, and Waco, TX will remain unaffected by the acquisition, and our clients and policyholders will continue to receive high levels of professional sales support and administrative services.
For more information about CPPIB, visit www.cppib.com