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Former Old Mutual CEO Heads CVC’s Phoenix Bid, Sunday Times Says

Jim Sutcliffe, former chief executive officer of insurer Old Mutual Plc, is leading CVC Capital Partners Ltd.’ bid for Phoenix Group Holdings, the Sunday Times reported.

Swiss Re Ltd., the world’s second-biggest reinsurer, is also interested in the U.K.’s biggest manager of closed life insurance funds, the newspaper reported, without saying where it got the information. Clive Cowdery’s Resolution Ltd. ended talks to buy Phoenix on Nov. 20, the newspaper said.

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