Life reinsurance and insurance holding company, Monument Re, has completed its acquisition of a portfolio from Zurich Life Assurance plc.
Monument Life Insurance d.a.c, an Ireland-based life insurance subsidiary of Monument Re, completed the acquisition on November 30, 2020.
The portfolio in question consisted of unit-linked International Portfolio Bond policies from Zurich Life Assurance plc.
The transaction was able to close following approval from the Irish High Court.
Terms of the transaction were not disclosed, but terms and conditions remain unchanged for policyholders.
Monument Re is a life reinsurance and insurance holding company that operates as a reinsurer and acquirer of European asset-intensive portfolios.
The company has an established presence in Bermuda, Ireland, Belgium, Luxembourg, the Netherlands and Guernsey, with branches in Spain, Italy, and Germany.