Swiss Re has purchased Barclays Life, the bank's closed book life assurance business, for £753m.
Decisive action is needed to stem a steep decline in UK protection sales and plug a growing protection gap, according to Swiss Re.
LV=, the insurance and investment group, has exercised its option agreement for retirement business Tomorrow and will complete the acquisition by December 31.
Standard Life is pulling out all the stops in its bid to snatch Resolution from the rival Pearl Group.
Friends Provident and Resolution have announced they are targeting a £1bn capital return to shareholders in both 2008 and 2009.
Standard Life and Swiss Re are reportedly set to launch a 730p to 740p per share bid for Resolution.
Resolution rivals Pearl and Standard Life were told today: Make a firm offer by 5pm on 25 October or walk away.
Standard Life and Swiss Re are reportedly closing in on a 750p a share joint offer for Resolution.
Tomorrow, Swiss Re's retirement specialist, will not remove the option to convert pension policies to self invested personal pensions (SIPPs) at the end of the year.
Zurich has confirmed it is to transfer part of its annuity business, worth approximately £3.7bn in assets, to Swiss Re.