Swiss Insurer Youplus Halts New Business, Seeks Fresh Capital

Youplus Group is seeking new backers after one of its key measures of financial strength plunged below a self-imposed target.

The company, which manages insurance portfolios formerly owned by financial institutions including UBS Group AG and American International Group Inc., is seeking fresh capital after its solvency ratio dropped below an “internally defined range,” Youplus said in an emailed statement. Falling below that threshold generally triggers regulatory intervention, the company said.