The shareholders of Annuity and Life Re (Holdings) Ltd. have given the company permission to execute an amalgamation agreement.

Annuity and Life Re, Hamilton, Bermuda, announced the agreement, with Pope Ltd., earlier this year. Pope Ltd. is owned by Pope Investments II LL.C., an affiliate of Pope Asset Management L.L.C., Memphis, Tenn.

About 77% of Annuity and Life Re shareholders voted on the deal, and 99% approved of the amalgamation, Annuity and Life Re says.

The price that shareholders will be getting for their shares was not immediately available.