Insurer in deal for annuity portfolio
Monument Re’s Irish subsidiary, Monument Life Insurance DAC, has completed the acquisition of a closed-block portfolio of variable annuities from Athora Ireland plc, a wholly owned subsidiary of Athora Holding Ltd.
The portfolio has been in run-off since 2017.
Financial terms of the transaction were not disclosed.
In accordance with the approval of the Irish High Court, the portfolio has transferred to Monument Life Insurance DAC with unchanged terms and conditions for policyholders.
Monument Re Limited is a life reinsurance and insurance holding company with a presence in Bermuda, Ireland, Belgium, Luxembourg, the Netherlands, the Isle of Man and Guernsey, with branches in Spain, Italy and Germany.
Monument Re is subject to group supervision by the Bermuda Monetary Authority.
Monument Life Insurance DAC is an Irish insurance company regulated by the Central Bank of Ireland and 100 per cent owned by Monument Re Limited.
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