Monument Re completes portfolio transfer
Updated: Feb 11, 2021 01:23 PM
Bermudian-based re/insurance outfit Monument Re has announced the completion of the portfolio transfer of the Omega Life book into the Italian branch of Monument Assurance Luxembourg SA.
The company said that, in accordance with the approval of the Irish High Court, the portfolio transferred to Monument Assurance Luxembourg at the end of December with unchanged terms and conditions for policyholders.
Monument Re said the board of Omega Life subsequently received authorisation from the Central Bank of Ireland to withdraw the life insurance license of Omega Life, which was completed on Tuesday of this week.
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Published February 11, 2021 at 1:23 pm (Updated February 11, 2021 at 1:23 pm)
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