Irish Life & Permanent sells UK life business for €70m

Irish Life & Permanent has reached agreement with Chesnara on the sale of its closed UK life business, City of Westminster Assurance, for €70m (£47.5m).

Irish Life & Permanent sells UK life business for €70m

Irish Life & Permanent has reached agreement with Chesnara on the sale of its closed UK life business, City of Westminster Assurance (CWA), for €70m (£47.5m), pending the approval of Chesnara shareholders and the Financial Services Authority in the UK.

Closing of the deal is expected in June.

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