HAMILTON, Bermuda--(BUSINESS WIRE)--Monument Re announced today that it has completed the acquisition of the Charles Taylor Group’s Isle of Man life and investment operations, following receipt of regulatory approval from the Isle of Man Financial Services Authority and non-objection from the Bermuda Monetary Authority.
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.
About the Charles Taylor Group
Charles Taylor provides insurance services, claims and technology solutions to all parties within the global insurance market. Its technical expertise, technological tools and breadth of solutions enable its clients to outperform, by addressing complexities and challenges across every stage and aspect of the insurance lifecycle and operating model.
Charles Taylor 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. It has earned the trust of a diversified, blue-chip international customer base that includes national and international insurance companies, mutuals, captives, MGAs, Lloyd's syndicates and reinsurers, along with brokers, distributors and corporate insureds.
About Monument Re
Monument Re Limited 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 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.