February 5, 2020 / 8:17 AM / 16 days ago

Bermuda-based insurer Athora raises 1.8 bln euros for investments

AMSTERDAM, Feb 5 (Reuters) - Athora Holding Ltd., the Bermuda-based insurer that is buying up European life insurance operations, said on Wednesday it has raised 1.8 billion euros ($1.99 billion) in fresh capital from investors including Athena and Apollo of the United States and the Abu Dhabi Investment Authority.

Athora, which among others purchased Generali’s Belgian operations in 2018 and Dutch insurer Vivat in 2019, has now raised a total of 4 billion euros in capital.

The privately held company said it will have 70 billion euros in assets under management and 3 million policyholders after the Vivat deal closes, which it expects this quarter subject to regulatory approval.

$1 = 0.9056 euros Reporting by Toby Sterling; editing by Jason Neely

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