Reassure plans to publish its registration document on Friday, pending the approval of the U.K. Financial Conduct Authority, Swiss Re said in a statement today. The publication of the registration document is the first step toward the potential listing of Reassure on the main market of the London Stock Exchange.

The second-largest reinsurer in August 2018 had announced that it was exploring a possible IPO of Reassure, the business that focuses exclusively on the acquisition and management of closed books of life insurance policies. Should Reassure go ahead with the IPO, Zurich-based Swiss Re will reduce its stake below 50 percent from a current 75 percent.

In preparation for the planned IPO, Reassure was reorganized into a standalone group and the owners will increase the capital position of the business by 481 million pounds ($611 million). Swiss Re owns Reassure together with MS&AD Insurance Group.