Monument Re has transferred a legacy €1.4bn reinsurance portfolio, comprising annuity and other life insurance liabilities acquired as part of the 2020 Greycastle transaction, to RGA. The transaction releases capital resources that Monument will redirect to its core strategy of consolidation in European life insurance markets. The transaction completed on 2 May 2025 following approval by the Boards of Directors of both Monument and RGA and non-objection from the Bermuda Monetary Authority.
“RGA has a stellar track record in the industry and is ideally placed to take on this business. We have enjoyed working with the RGA team over the last few months and built a solid relationship based on mutual trust and respect and a shared appreciation of our respective strengths. We are now focussed on ensuring a smooth transition process for the benefit of policyholders,” said Monument Re Group CEO Carlo Elsinghorst.
“Monument retains a very strong solvency position and the increased financial flexibility as a result of this transaction together with the recent rationalising of group support functions will enhance our capacity to capitalize on our market leading, solutions-focused transaction capabilities.” Elsinghorst added.
“We look forward to continuing to deliver on our promise to the European life insurance markets: a trusted consolidator that provides tailored solutions to real needs. We are excited about the opportunities ahead of us.”
“We are delighted to have partnered with Monument Re Group on this transaction, and it was a pleasure to work with their team,” said Emma Ferris, Senior Vice President, Managing Director, RGA UK & Ireland. “This transaction highlights RGA’s ability to execute on significant in-force opportunities, and to provide innovative solutions to address the evolving needs of our clients.”
Citi and Fenchurch Advisory acted as financial advisers for Monument on the transaction.
