Zurich Financial Services is refusing to comment on whether it plans to sell Threadneedle Asset Mana...
Zurich Financial Services is refusing to comment on whether it plans to sell Threadneedle Asset Management after the insurer posted a $2.03bn loss for the first half of 2002. The market expects Zurich to sell around $1bn of its businesses in addition to raising around $2.5bn by selling stock. The insurer said it would sell non-core businesses. Reported net income from asset management business was $394m, which included an after tax income of $373m from the sale of US asset management operation Zurich Scudder Investments.
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
