M&A Deal Summary

Irish Life Group Acquires Ark Life Assurance

On July 13, 2021, Irish Life Group acquired insurance company Ark Life Assurance from Phoenix for 230M EUR

Acquisition Highlights
  • This is Irish Life Group’s 5th transaction in the Insurance sector.
  • This is Irish Life Group’s largest (disclosed) transaction.
  • This is Irish Life Group’s 4th transaction in Ireland.

M&A Deal Summary
Date 2021-07-13
Target Ark Life Assurance
Sector Insurance
Buyer(s) Irish Life Group
Sellers(s) Phoenix
Deal Type Divestiture
Deal Value 230M EUR

Target

Ark Life Assurance

Dublin, Ireland
Ark Life Assurance is a provider of insurance services. Ark Life Assurance was founded in 1991 and is based in Dublin, Ireland.

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Buyer(S) 1

Buyer

Irish Life Group

Dublin,, Ireland
Category Company
Founded 1939
Sector Insurance
DESCRIPTION

Irish Life Group Ltd. provides risk protection, pensions, savings, and investment products for individual and group markets.

DEAL STATS #
Overall 5 of 5
Sector (Insurance) 5 of 5
Type (Divestiture) 1 of 1
Country (Ireland) 4 of 4
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-10 Irish Progressive Services International

Dublin, Ireland

Irish Progressive Services International Ltd. offers end-to-end TPA solutions to deliver a range of professional support services to the life insurance and pensions industry. These cover client migration on IPSI’s systems and processes, ongoing business operations administration and technology services, and servicing client change and development needs.

Sell -

Seller(S) 1

SELLER

Phoenix

London, United Kingdom
Category Company
Founded 1782
Sector Insurance
Employees7,757
Revenue 16.7B GBP (2023)
DESCRIPTION

Phoenix provides a range of products through our trusted pensions, savings, and life insurance brands. Phoenix was founded in 1782 and is based in London, England.

DEAL STATS #
Overall 2 of 2
Sector (Insurance) 1 of 1
Type (Divestiture) 2 of 2
Country (Ireland) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-28 Abbey Life

Bournemouth, United Kingdom

Abbey Life is a life insurance group that specialises in the management of closed life and pension funds predominantly comprising unit-linked life and pensions policies and annuities in payment. ALAC also manages two with-profit funds, other non-profit funds and a small permanent health insurance book. ALAC is authorised by the PRA and regulated by the FCA and the PRA to carry on long term insurance business in the UK. As at 31 December 2015, Abbey Life had approximately 735,000 policyholders and £10 billion of assets under management.

Buy £935M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-04 Sun Life UK

Basingstoke, United Kingdom

Sun Life UK manages life and pension policies and annuity blocks for UK Clients. Sun Life UK is based in Basingstoke, United Kingdom.

Buy £248M
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