Life reinsurance and insurance holding company, Monument Re, has completed the acquisition of the Charles Taylor Group’s Isle of Man life and investment operations.
First announced back in August 2020, the purchase mostly consists of Charles Taylor’s life insurance entity, LCL International Life Assurance Company Limited, and Charles Taylor Holdings Limited.
The deal was completed following receipt of regulatory approval from the Isle of Man Financial Services Authority.
It also gained non-objection from the Bermuda Monetary Authority, which regulates Monument Re.
LCL International Life Assurance Company Limited has been renamed Monument International Life Assurance Company Limited and is the core life insurance entity in the Isle of Man.
Earlier this month, Monument Re also completed a portfolio transfer from Omega Life, an Ireland-domiciled life assurance company that has been closed to all new business since July 2017.
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.
