Monument Re has through its European subsidiary Laguna Life d.a.c completed its acquisition of Inora Life DAC, a life insurer domiciled in Ireland, from its owner Societe Generale.
Inora Life ceased all new activity in 2012 but still manages a portfolio of unit-linked insurance products.
“The acquisition of Inora aligns with our growth and consolidation strategy in Ireland,” said Manfred Maske, Chief Executive Officer of Monument Re Group.
Monument Re is a Class E reinsurer that specialises in the acquisition of run-off, closed and asset-intensive insurers.
The closing of this deal follows the completion of its acquisition of Nordben Life and Pension Insurance, a Guernsey-based company licensed to carry out long-term and general insurance business, which has been closed to all new business since early 2016.
