Monument Re has announced in a recent press release that it has signed a definitive agreement to acquire Inora Life DAC from Societe Generale.
Inora Life is a life insurer domiciled in Ireland which has ceased all new activity since 2012 but still manages a portfolio of unit-linked insurance products.
The closing of the transaction, which remains subject to regulatory approval, will have no impact on Inora Life DAC clients and policyholders.
Change of control of the company will follow satisfaction of customary closing conditions, including receipt of regulatory approvals.
Manfred Maske, CEO of Monument Re Group, said: “We are pleased to have been able to work with Societe Generale and to be able to announce this transaction. The acquisition of Inora aligns with our growth and consolidation strategy in Ireland.”