Monument Re completes LCL International Life Assurance acquisition
Bermudian-based re/insurance outfit Monument Re has completed the acquisition of the Charles Taylor Group’s Isle of Man life and investment operations.
Completion comes following receipt of regulatory approval from the Isle of Man Financial Services Authority and non-objection from the Bermuda Monetary Authority.
Monument Re, a Bermuda Class E long-term insurer, said that LCL International Life Assurance Company Ltd has been renamed Monument International Life Assurance Company Ltd and is the core life insurance entity in the Isle of Man.
The Charles Taylor Group provides insurance services, claims and technology solutions to all parties within the global insurance market.
The organisation employs approximately 3,100 staff in more than 120 locations spread across 30 countries in Europe, the Americas, Asia Pacific, the Middle East and Africa.
Monument Re Ltd is a life reinsurance and insurance holding company with a presence in Bermuda, Ireland, Belgium, Luxembourg, the Netherlands, the Isle of Man and Guernsey, with branches in Spain, Italy, France and Germany.
Monument Re is subject to group supervision by the BMA.