Monument Re takes over Isle of Man business from Charles Taylor

Bermuda-based reinsurer Monument Re has completed the acquisition of Charles Taylor Group’s Isle of Man life and investment operations.

The deal was completed following receipt of regulatory approval from the Isle of Man Financial Services Authority and non-objection from the Bermuda Monetary Authority.

The acquired portfolio principally consists of Charles Taylor’s life insurance company LCL International Life Assurance Company and Charles Taylor Holdings (IOM).

It establishes Monument Re's presence on the Isle of Man island, and is a part of its growth strategy in the Crown Dependencies.

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.

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