MONUMENT RE COMPLETES ISLE OF MAN DEAL WITH CHARLES TAYLOR

Hamilton, Bermuda-based Monument Re has completed the acquisition of Charles Taylor Group’s Isle of Man life runoff and investment operations. The completion follows receipt of regulatory approval from the Isle of Man Financial Services Authority and non-objection from the Bermuda Monetary Authority. First announced in August 2020, the deal included Charles Taylor’s core life insurance entity, LCL International Life Assurance Company Limited, and Charles Taylor Holdings Ltd. Following completion, LCL International Life Assurance Company has been renamed Monument International Life Assurance Company Ltd. Earlier this month, Monument Re also completed a portfolio transfer from Omega Life, an Ireland-domiciled life insurer in runoff.