Hamilton, Bermuda, 4 November 2022.
Monument Re announced today that its Isle of Man subsidiary Monument International Life Assurance Company Limited (“MILAC”) has completed the acquisition of the closed book portfolio of Zurich International Life Limited’s (“ZILL”) Singapore long term life insurance business. The ZILL Singapore branch portfolio and employees have transferred into the Singapore branch of MILAC following receipt of court and regulatory approvals in the Isle of Man and Singapore.
Monument International Life Assurance Company Limited is an Isle of Man insurance company regulated by the Isle of Man Financial Services Authority and wholly owned by Monument Re Limited. Through its branch in Singapore, MILAC is authorised to conduct life insurance and continue seeking growth through acquisition.
Monument Re Limited is a life insurance reinsurer and insurance holding company with a proven track record in acquiring capital-intensive European portfolios. Monument Re is present in Bermuda which, like Switzerland, is a fully Solvency II equivalent jurisdiction. The Monument Re Group operates through its subsidiaries in Belgium, Ireland, Isle of Man, Guernsey, and Luxembourg, with branches in Spain, Italy, and Germany. Each entity is subject to local regulation and Monument Re is subject to Group Supervision by the Bermuda Monetary Authority.
Zurich International Life Limited provides life assurance, investment and protection products and is part of the Zurich Insurance Group. Zurich International Life Limited is fully authorised under the Isle of Man Insurance Act 2008 and is regulated by the Isle of Man Financial Services Authority.
Registered in the Isle of Man number 20126C.
Registered office: Zurich House, Isle of Man Business Park, Douglas, Isle of Man, IM2 2QZ, British Isles.
Telephone +44 1624 662266 Telefax +44 1624 662038 www.zurichinternational.com
For further information:
4 Par-la-Ville Road
+1 441 400 9300
Monument Life Insurance DAC
Two Park Place,
Upper Hatch Street,
Monument Assurance Belgium S.A.
Boulevard du Roi Albert II 19 - 1210 Brussels – Belgium
+32 (0) 78 050 006 | +32 (0) 4 232 44 11
Monument Assurance Luxembourg S.A.
Atrium Business Park
29, rue du Puits Romain
L- 8070 Bertrange
+352-264 98 1
Monument International Life Assurance Company Limited
St George’s Court
Upper Church Street
Isle of Man IM1 1EE
+44 1624 683 683
Nordben Life and Pension Insurance Co. Limited
OLD bank chambers
La grande rue