28 March 2019
McCann FitzGerald advises Monument Re on Acquisition of Inora Life from Société Générale
McCann FitzGerald has advised Bermuda-based Monument Re on its acquisition of life insurer Inora Life DAC from French financial services company Société Générale. Completion of the transaction is subject to regulatory approval. The acquisition aligns with Monument Re’s growth and consolidation strategy in Ireland.
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 transaction will have no impact on Inora Life DAC clients & policyholders.
From its base in Bermuda, Monument Re operates as a reinsurer and acquirer of European asset intensive portfolios. The Irish subsidiaries of Monument Re trade as Monument Insurance, and includes Laguna Life DAC, which is regulated by the Central Bank of Ireland.