Bermudian reinsurer Monument Re has announced the acquisition of Cattolica Life DAC from Cattolica Assicurazioni.
Cattolica Life is a life insurer domiciled in Ireland which ceased new activity since 2017.
Monument Re noted that the transaction will have no impact on clients and policyholders.
The company further stipulated that change of control of Cattolica Life DAC will follow satisfaction of customary closing conditions, including receipt of regulatory approvals.
Cattolica Life DAC’s owner, Cattolica Assicurazioni, is an Italian insurance company with nearly 3.6 million customers and total premiums of nearly €6 billion (2018).
This deal marks the second Ireland-based life insurer to be acquired by Monument Re in recent months, following its purchase of Inora Life DAC from Societe Generale in September.
