Monument Re Closes Acquisition of Variable Annuity Portfolio from Athora Ireland.

MANews-(C)2009-2022

Bermuda-based reinsurer Monument Re's Irish subsidiary Monument Life Insurance DAC has completed the acquisition of a closed-block portfolio of variable annuities from Athora Ireland plc, a wholly-owned subsidiary of German insurance and reinsurance group Athora Holding Ltd (NYSE: ATH), the company said.

The portfolio has been in run-off since 2017.

Financial terms of the transaction were not disclosed.

In accordance with the approval of the Irish High Court, the portfolio has transferred to Monument Life Insurance DAC with unchanged terms and conditions for policyholders.

Monument Re Ltd. is a life Reinsurance and Insurance Holding company with a...

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