Monument Re to acquire an Irish portfolio from Rothesay Life
Monument Re announced today that, subject to regulatory approval, it has entered into an agreement to acquire a portfolio of Irish annuities worth €140m from Rothesay Life. The acquisition has been structured initially as reinsurance to Monument Re and is expected to be followed by a transfer of the portfolio to Laguna Life d.a.c., subject to regulatory and court approvals.
Rothesay Life's policyholders do not need to take any action at this time. Following the initial court hearing we will write to all of our policyholders who may be affected by the proposed transfer with details of the process. Further details will also be added to our website.
For the full press release please click here.