The company previously hired Campbell Lutyens & Co to approach potential buyers for the assets according to Bloomberg, which cited three people with knowledge of the talks.
Uniqa is the latest insurer to sell off its private equity fund stakes following the implementation of new Solvency II rules, which require insurers to hold capital reserves to offset risky assets such as private equity.
Last month Delta Lloyd, the biggest group life insurance provider in the Netherlands, decided to pull out of managing private equity investments because of “very hefty” capital charges from Solvency II.
A few weeks earlier it was reported French insurance group AXA was close to selling a majority stake in its private equity arm to a group led by its management to de-risk its asset base.
The deal would value the unit at €500m, the Financial Times said, citing two people with knowledge of the matter.
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