Life reinsurance and insurance holding company, Monument Re, has completed its previously announced acquisition of GreyCastle Holdings Ltd and its subsidiaries.
The deal was announced towards the end of March, 2020 and sees Monument Re acquire a Bermuda-based manager of annuity and life risks.
GreyCastle was established in 2014 by a group of institutional investors in order to provide reinsurance for a significant block of XL Life Reinsurance life and annuity risks.
The acquisition includes GreyCastle subsidiaries GreyCastle Life Reinsurance (SAC) Ltd. and GreyCastle Services Ltd., and has completed following the receipt of regulatory approval from the Bermuda Monetary Authority (BMA).
