HAMILTON, Bermuda--(BUSINESS WIRE)--Monument Re announced today that, subject to regulatory approval, it has acquired Cattolica Life DAC from Cattolica Assicurazioni. Cattolica Life is a life insurer domiciled in Ireland which ceased new activity since 2017. The transaction will have no impact on Cattolica Life DAC clients and policyholders.
Change of control of the company will follow satisfaction of customary closing conditions, including receipt of regulatory approvals.
About Cattolica Assicurazioni.
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. With nearly 3.6 million customers who rely on the insurance solutions and products it distributes, the Group has total premiums of nearly €6 billion (2018).
About Monument Re
Monument Re is a life Reinsurance and Insurance Holding Company with presence in Bermuda, Ireland, Belgium, Luxembourg, the Netherlands and Guernsey and branches in Spain, Italy, France and Germany. Monument Re operates as a reinsurer and acquirer of European asset intensive portfolios. Through its strategy, Monument Re looks to assume asset based risks within its risk appetite and efficiently operate these businesses or portfolios.
Monument Re is subject to Group Supervision by the Bermuda Monetary Authority.