Reinsurance News

Monument Re acquires variable annuity portfolio from Athora Ireland

3rd March 2021 - Author: Charlie Wood

Life re/insurance holding company Monument Re has agreed to acquire the closed-block portfolio of variable annuities from Athora Ireland.

monument-re-logoAthora 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.

This announcement follows Monument Re’s recent acquisition of the Charles Taylor Group’s Isle of Man life and investment operations.

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.

2021 has also seen Monument Re complete a portfolio transfer from Omega Life.

The Omega Life book was transferred into the Italian Branch of Monument Assurance Luxembourg S.A at the end of December 2020.

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