Monument Re Completes Portfolio Transfer
Monument Re announced today [Feb 11] that it completed the portfolio transfer of the Omega Life book into the Italian Branch of Monument Assurance Luxembourg S.A at the end of December 2020.
A spokesperson said, “Monument Re announced today that it completed the portfolio transfer of the Omega Life book into the Italian Branch of Monument Assurance Luxembourg S.A at the end of December 2020.
“In accordance with the approval of the Irish High Court, the portfolio transferred to Monument Assurance Luxembourg with unchanged terms and conditions for policyholders. The Board of Omega Life subsequently received authorisation from the Central Bank of Ireland to withdraw the life insurance licence of Omega Life which was completed on 9th of February 2021.”
