Life re/insurance holding company Monument Re has agreed to acquire the closed-block portfolio of variable annuities from Athora Ireland.
Athora is a wholly-owned subsidiary of Athora Holding Ltd and financial terms of the transaction were not disclosed.
“We are pleased to have reached agreement with Athora to acquire this block of business which further reinforces our position as the market leading consolidator in Ireland,” said Manfred Maske, Chief Executive Officer of Monument Re.
First announced back in August 2020, the purchase mostly consisted of Charles Taylor’s life insurance entity, LCL International Life Assurance Company Limited, and Charles Taylor Holdings Limited.
The Omega Life book was transferred into the Italian Branch of Monument Assurance Luxembourg S.A at the end of December 2020.