HAMILTON, Bermuda--(BUSINESS WIRE)--Monument Re announced today that it has completed the acquisition of GreyCastle Holdings Ltd. (‘GreyCastle’) and its subsidiaries, which include GreyCastle Life Reinsurance (SAC) Ltd. and GreyCastle Services Ltd., following receipt of regulatory approval from the Bermuda Monetary Authority.
GreyCastle was founded in 2014 by a group of institutional investors to reinsure a block of XL Life Reinsurance life and annuity liabilities of approximately USD4bn.
About Monument Re
Monument Re Limited is a life Reinsurance and Insurance Holding Company with a presence in Bermuda, Ireland, Belgium, Luxembourg, the Netherlands and Guernsey, with branches in Spain, Italy, France and Germany. Monument Re operates as a reinsurer and acquirer of European asset intensive portfolios. Through this strategy, Monument Re assumes asset-based risks within its risk appetite and efficiently operates these businesses or portfolios.
Monument Re is subject to Group Supervision by the Bermuda Monetary Authority.