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Swiss Re completes purchase of GE Life

ZURICH (Bloomberg) — Swiss Reinsurance Co., the world's largest reinsurer, said it completed the acquisition of the U.K. life insurance unit of General Electric Co. for $465 million ($913 million).The transaction was first announced by Swiss Re on October 13, 2006, the Zurich-based company said in an e-mailed statement. The purchase, paid in cash, will add about 400,000 policies and $8 billion of assets to a unit of Swiss Re that typically buys businesses closed to new customers.