Bermudian reinsurer Monument Re has completed its previously announced acquisition of Cattolica Life DAC from Cattolica Assicurazioni.
Cattolica Life is a life insurer domiciled in Ireland which ceased new activity since 2017.
The transaction, first announced back in December 2019, was completed following receipt of regulatory approval from the Central Bank of Ireland and no-objection from the Bermuda Monetary Authority.
Monument Re noted that the transaction will have no impact on clients and policyholders.
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).
Cattolica Assicurazioni is one of the main players on the Italian insurance market and the only cooperative company in its industry to be listed on the Milan Stock Exchange, where it has been present since November 2000.
