Barclays Bank Plc /Eng/ - Report of Foreign Issuer (6-K)
05 Agosto 2008 - 5:32PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
August, 2008
Barclays PLC and
Barclays Bank PLC
(Names of Registrants)
1 Churchill Place
London E14 5HP
England
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No x
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
This Report is a joint Report on Form 6-K filed by Barclays PLC and Barclays
Bank PLC. All of the issued ordinary share capital of Barclays Bank PLC is
owned by Barclays PLC.
This Report comprises:
Information given to The London Stock Exchange and furnished pursuant to
General Instruction B to the General Instructions to Form 6-K.
EXHIBIT INDEX
Disposal 05 August 2008
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each of the
registrants has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
BARCLAYS PLC
(Registrant)
Date: August 05, 2008
By: /s/ Patrick Gonsalves
----------------------
Patrick Gonsalves
Deputy Secretary
BARCLAYS BANK PLC
(Registrant)
Date: August 05, 2008
By: /s/ Patrick Gonsalves
----------------------
Patrick Gonsalves
Joint Secretary
Barclays
announces
sale
of
Barclays Life to Swiss
Re
Barclays
Bank
PLC
('Barclays')
has agreed to
sell
Barclays Life Assurance
Company Limited
('Barclays Life') to
Swiss Re
insurance Company ('Swiss
Re')
,
for a consideration
of
approximately
£
753
million
payable in cash. The sale is
expected to be completed
by 31 October
2008
, after receipt of appropriate
regulatory approvals.
Barclays Life is the combined
life assurance business of Barclays and Woolwich in the
UK
,
which
ceased to accept
new
customer
applications
i
n
2001. A
s at
31May 2008
, Barclays Life
managed
approximately
£
6.8
billion of assets in respect
of
c.
760,000 policies
which will transfer with
the sale
. The portfolio primarily
comprises unit-linked
life
and pensions
policies
.
Barclays Life
generated
approximately £350
million in premium income
in
the
financial
year to 30 November 2007.
T
he post-tax gain on sale for
Barclays is expected
to
be
approximately
£
330
m
illion
.
Excluding the gain on sale,
the
transaction
is not expected to have
a material impact
on Barclays earnings per
share
.
Barclays
will continue
to sell life
insurance
products from a
selection of third party providers.
Chris Lucas
,
Group Finance
Director
, Barclays, said
:
"
Barclays Life
is
an
attractive
, high
quality
business
which is
no
t
core to
Barclays.
We are delighted to
agree a sale to Swiss Re
which is
an experienced
and
reputable
partner.
We are confident that Swiss
Re, with
its
expertise in this area,
will offer policyholders continuity of service and support.
"
For further information
please contact
:
Mark
Merson
Alistair Smith
+44 (0) 20 7116
5752
+44 (0) 20 7116
6132
+44 (0) 20 7116
2929
+44 (0) 20 7116
6586
Investor
Relations
Media
Relations
+41 43 285
4444
+41 43 285 7171
investor_relations@swissre.com
media_relations@swissre.com
Barclays
is a major global
financial services provider engaged in retail and commercial banking, credit cards,
investment banking, wealth management and investment management services with an
extensive international presence in Europe, the
United States
, Africa
and
Asia
.
With over 300 years of history
and expertise in banking,
Barclays
operates in over 50
countries and employs
approximately
1
4
7
,000 people.
Barclays
moves, lends, invests
and protects money for over 3
8
million customers and
clients worldwide
.
For further information
about
Barclays
, please visit our
website
www.barclays.com
.
About
Swiss Reinsurance Company
Ltd
Swiss Re is a leading and
highly diversified global reinsurer. The company operates through offices in more
than 25 countries. Founded in
Zurich
,
Switzerland
, in 1863, Swiss Re offers
financial services products that enable risk-taking essential to enterprise and
progress. The company's traditional reinsurance products and related services for
property and casualty, as well as the life and health business are complemented by
insurance-based corporate finance solutions and supplementary services for
comprehensive risk management. Swiss Re is rated "AA-" by Standard & Poor's,
"Aa2" by Moody's and "A+" by A.M. Best.
Forward Looking
Statements
This announcement contains
certain forward-looking statements within the meaning of Section 21E of the US
Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities
Act of 1933, as amended, with respect to certain of the Group's plans and its
current goals and expectations relating to its future financial condition and
performance.
By their nature,
forward-looking statements involve risk and uncertainty because they relate to
future events and circumstances, including, but not limited to, UK domestic and
global economic and business conditions, market related risks such as changes in
interest rates and exchange rates, the policies and actions of governmental and
regulatory authorities, changes in legislation and the impact of competition- a
number of which factors are beyond the Group's control. As a result, the Group's
actual future results may differ materially from the plans, goals, and expectations
set forth in the Group's forward-looking statements. Any forward-looking statements
made by or on behalf of Barclays speak only as of the date they are made. Barclays
does not undertake to update forward-looking statements to reflect any changes in
Barclays expectations with regard thereto or any changes in events, conditions or
circumstances on which any such statement is based. The reader should, however,
consult any additional disclosures that Barclays has made or may make in documents
it has filed or may file with the SEC.
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