Italian life insurer Eurovita Holding has acquired Pramerica Life SpA from U.S.-based Prudential Financial Inc. for an undisclosed price, Reuters reported.

The deal will boost Eurovita's gross written premiums to €2 billion, according to the report.

In June 2018, a European affiliate of Global Bankers Insurance Group LLC agreed to acquire Pramerica Life from Prudential Financial subsidiary Prudential International Investments Co. LLC.