Irish Life has today completed its acquisition of Ark Life Assurance Company dac (“Ark Life”) from ReAssure Limited, part of Phoenix Group Holdings plc., which it announced on 13th July 2021.
Ark Life has approximately 150,000 policies and €2.1 billion worth of assets.
For Ark Life customers, there will be no changes to their policy terms and conditions as a result of this transaction. Irish Life Financial Services already acts as third-party administrator for Ark Life policies, providing the customer service operations, and Irish Life Investment Managers manage the policyholder investments. These existing relationships will help to ensure continuity of support for customers.