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The parent company of Armonk-based Swiss Reinsurance America Corp. sold off its Conning & Co. unit to a New York City-based private equity firm.
Aquiline Capital Partners and Swiss Reinsurance Co. Ltd. did not disclose the price tag on Hartford, Conn.-based Conning, which provides investment advisory services to insurance carriers.
With some $100 billion in total assets under contract, Conning is the third-largest general account manager for insurers globally. Swiss Re acquired the company in 2001 from MetLife.
Aquiline is run by Jeff Greenberg, the former CEO of insurance brokerage Marsh & McLennan Cos. Inc. and the son of former American International Group Inc. CEO Hank Greenberg.
