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Welcome to Athora

Athora is the new name for Aegon Ireland. You are now being redirected to www.athora.com/ie

Updated on 5 November 2021

On 3 March 2021, we announced the proposed sale and transfer of the Athora Ireland guarantees portfolio to Monument Life Insurance DAC (Monument Life Insurance). The sale is expected to close by year end 2021, subject to necessary Irish High Court and regulatory approvals.

Here, you will find information about the proposed sale and transfer. We will provide updates on this page in the coming weeks and months about the process. You can also contact our client services team with further questions. You will find our contact details by clicking here. 

  1. Copy of the Petition to the Irish High Court including the terms of the Scheme
  2. Communication about Proposed Transfer of Life Assurance Business 

Includes:

  • Letter from Tadhg Clandillon (Chief Executive Officer) on behalf of Athora Ireland plc
  • Summary of proposed transfer
  • Questions and answers
  • Report of the Independent Actuary Report (Summary form)
  • A copy of the notice advertising the petition to the high court of Ireland
  • Contact details
  1. Independent Actuary report (full)
  2. Supplemental Independent Actuary report (full) added on 5 November 2021

To use our FAQs, click on the relevant heading below to reveal a selection of questions. Then click on the relevant question to reveal the answer. If you can't find the answer you're looking for here, just get in touch with our Client Relations team.

No, Athora is not selling the portfolio because of Brexit. Athora wants to focus its Irish operations on the growth of its reinsurance solutions business as well as being home to some of Athora’s Corporate Centre teams. Managing and operating the guarantees portfolio requires an operational capability that does not match our strategy for our Irish operations.

Under Irish law, the Irish High Court must give approval to the transfer of a portfolio of insurance policies such as this one before it can take place.  The purpose of the approval is to ensure policyholders are protected. The process takes between 6-9 months.

Athora Holding Ltd., the ultimate parent company of Athora Ireland plc, has agreed to sell Athora Ireland’s portfolio of guarantee products to Monument Life Insurance DAC (Monument Life). This transaction is through a portfolio transfer which is subject to approval by the Central Bank of Ireland and the Irish High Court.

We expect that the transaction will complete around year-end 2021. This transaction is through a portfolio transfer which is subject to approval by the Central Bank of Ireland and the Irish High Court. 

Athora wants to focus its Irish operations on the growth of its reinsurance solutions business as well as being home to some of Athora’s Corporate Centre teams. Managing and operating the guarantees portfolio requires an operational capability that does not match our strategy for our Irish operations.

Monument Life Insurance DAC is a financially secure insurance company. It has a solvency cover that comfortably exceeds the minimum level required by Central Bank of Ireland regulations.

Monument Life has a range of insurance portfolios including guarantee products. It employs people with experience in managing guarantees and has the business processes in place to do so

Monument Life Insurance DAC is an Irish insurance company and is regulated by the Central Bank of Ireland. It is part of Monument Re, a life Reinsurance and Insurance Holding Company with a presence in Bermuda, Ireland, Belgium, Luxembourg, The Netherlands, the Isle of Man and Guernsey, with branches in Spain, Italy, France and Germany.

We expect the policies to transfer to Monument Life around year-end 2021. However, this is subject to High Court and regulatory approval.

All Athora Ireland guarantee products are included in the proposed transfer to Monument Life. For policyholders in the UK, these are: 5 for Life, Secure Capital, Secure Income, Secure Lifetime Income and Secure Trustee Investment.

There are no changes to the policies. We will continue to service the policies as normal until the proposed transfer takes place. After transfer, Monument Life has indicated that they are committed to servicing policyholders to high standards.

In the short term:

  • You will not need to make any changes or take any action in relation to you/your client’s policy as a result of this announcement.
  • Our contact details are unchanged. You will have access to our online services, and we will continue to service our customers and advisers until the proposed transfer takes place. Thereafter, Monument Life will be responsible for servicing of policies.

We will write to you later in the year with updates about the proposed transfer.

Yes. The guarantees will continue to be provided by Athora Ireland until the proposed transfer takes place. Thereafter, Monument Life will be responsible for providing the guarantees.

Yes, the FSCS will continue to apply for UK policyholders while customers of Athora Ireland. Monument Life has confirmed that the policies would continue to be covered by the provisions of the FSCS, following the proposed transfer.

This transaction is through a portfolio transfer which is subject to approval by the Central Bank of Ireland and the Irish High Court. The rights of policyholders will be described in the written communication which we will send to you later in the year as directed by the Irish High Court.

Monument Life is regulated by the Central Bank of Ireland.

There will be no change to the regulator for these products. Athora Ireland is an Irish regulated insurance company, and our primary regulator is the Central Bank of Ireland (CBI).  This will not change under Monument Life’s ownership. Monument Life is also an Irish-regulated insurance company, and its primary regulator is the Central Bank of Ireland (CBI).

Athora Ireland remains committed to servicing your policy as usual until the proposed transfer takes place. There are no servicing changes prior to the proposed transfer to Monument Life. After transfer, Monument Life has indicated that they are committed to servicing policyholders to high standards.

Yes, you can continue to use Athora’s online services as normal. We will write to you in due course to let you know when this changes to Monument Life.

No, you do not need to take any immediate action as a result of this announcement. We will write to you regarding details of the transfer of the portfolio later in the year.

Athora Ireland is committed to servicing your policy to our usual high standards until the proposed transfer takes place. Therefore, please continue to contact the Athora Ireland team for any queries relating to your policy and this proposed transfer.

Our contact details are:

Phone: 08456 000 173 (from the UK)

00 353 1 673 8840 (from outside the UK)

Email: client.relations.ai@athora.com

We will write to you regarding details of the transfer of the portfolio later in the year and will provide details of the contact details for Monument Life once the transfer completes.

Contact us

Customer & Adviser Phoneline: 08456 000 173 (from the UK)

00 353 1 673 8840 (from outside the UK)

Email: client.relations.ai@athora.com

Address: Athora Ireland plc, 2nd Floor, IFSC House, Custom House Quay, Dublin, D01 R2P9, Ireland