MONUMENT-RE
Monument Re announced today that it had reached an agreement with Zurich International Life Limited (“ZILL”) to acquire the closed book portfolio of Zurich International Life Limited’s Singapore long term life insurance business. Following Monument International Life Assurance Company Limited (“MILAC”) successfully receiving a Singapore insurance licence on 27th May 2022, the ZILL Singapore branch portfolio and employees will transfer into the new Singapore branch of MILAC upon receipt of court and regulatory approvals in the Isle of Man and Singapore.
Reginald Peacock, CEO of Zurich Singapore, said “Like in any business, we will always look for ways to improve and for opportunities to optimise our business in a respectful way for our customers, partners and employees. Be reassured no other business outside of our Singapore long term life insurance portfolio will be materially impacted and we remain dedicated to servicing all our existing customers and partners.”
Manfred Maske, CEO of Monument Re, added “We are pleased to have reached agreement with ZILL to acquire this block of business, our second transaction with the wider Zurich group. This transaction represents an important step in the Monument growth and consolidation strategy by strengthening our presence in the Isle of Man whilst also establishing our presence in the Singapore market.”
“We are delighted to have reached this agreement with ZILL. Acquiring this portfolio allows MILAC to secure its first footprint into the Asian market and execute our growth and consolidation strategy. We look forward to welcoming the transferring staff in Singapore to MILAC and the wider Monument Re Group from the transfer date,” said Jeffrey More, CEO of MILAC.
Monument Re Limited is a life Reinsurance and Insurance Holding Company with a presence in Bermuda, Ireland, Belgium, Luxembourg, the Isle of Man and Guernsey, with branches in Spain, Italy and Germany. Monument Re operates as a reinsurer and acquirer of European asset-intensive portfolios. Through this strategy, Monument Re assumes asset-based risks within its risk appetite and efficiently operates these businesses or portfolios.
Monument Re is subject to Group Supervision by the Bermuda Monetary Authority.
Monument International Life Assurance Company Limited is an Isle of Man insurance company regulated by the Isle of Man Financial Services Authority and 100% owned by Monument Re Limited. It has a Singapore branch for its Isle of Man business (and is therefore subject to regulation both in the Isle of Man and Singapore).
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.zurich.com
Zurich International Life Limited, Singapore Branch, which is registered (Registration number: T05FC6754E) as a Foreign Company registered in Singapore.
Branch address: Singapore Land Tower, #29-05, 50 Raffles Place, Singapore 048623.
Telephone: +65 6876 6750
Telefax: +65 6876 6751
Zurich Insurance Group (Zurich) is a leading multi-line insurer serving more than 55 million customers – both people and businesses – in more than 210 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience.
Reflecting its purpose to ‘create a brighter future together', Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and is one of the world’s most sustainable insurers, as shown by the S&P Global Corporate Sustainability Assessment. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil.
The Group has about 56,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com .
For further information:
To learn more, please visit www.monumentregroup.com or contact Fiona Davies at info@monumentregroup.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20220531005745/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Xsolla Integrates MVola as a Payment Method to Enable Instant, Card-Free Payments for Gamers in Madagascar’s Mobile-First Market4.12.2025 21:00:00 CET | Press release
MVola Integration Enhances Payment Accessibility And Supports The Growth Of Madagascar’s Thriving Mobile Gaming Ecosystem Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today announced that MVola, Madagascar’s number one digital wallet, is now available as a payment option for players across the country. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204268075/en/ Chris Hewish, President of Xsolla Madagascar is a fast-growing, mobile-first market of 32 million people, where digital wallets are the primary driver of daily transactions. MVola, recently licensed as a digital bank, has established itself as the leading wallet in the country, with over 10 million users and powering more than 1 billion transactions annually. By adding MVola as a payment method to its portfolio, Xsolla removes the friction of card payments, enabling players to pay seamlessly with a trus
Board Recognized as a Leader in the Gartner® Magic Quadrant™ for Financial Planning Software for Fourth Consecutive Year4.12.2025 18:14:00 CET | Press release
Fourth consecutive placement reflects Board’s Completeness of Vision and Ability to Execute Board, the leading Enterprise Planning Platform, today announced that it has been named a Leaderin the2025 Gartner® Magic Quadrant™ for Financial Planning Software. This marks the fourth consecutive year the company has been positioned in the Leaders quadrant. The Board Enterprise Planning Platform integrates planning processes across the enterprise, enabling strategic, financial, and operational planning with near-real-time analysis and data sharing. Board’s unified approach to planning has driven strong adoption across financial and operational planning in the manufacturing, consumer packaged goods (CPG) and retail sectors. “We are proud to once again be named a Leader in the Gartner Magic Quadrant for Financial Planning Software,” said Jeff Casale, CEO of Board. “To Board, this recognition reflects our continued commitment to helping organizations unify strategic, financial, and operational p
UAE Unveils $1bn Yemen Energy Rebuild, Signalling New Opportunities for European Renewables and Grid Partners4.12.2025 18:04:00 CET | Press release
The UAE has announced a $1 billion package to help rebuild Yemen’s electricity sector, a move that analysts in Europe say could open new avenues for European renewable-energy firms seeking entry points into high-impact stabilisation projects across the Middle East. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204476712/en/ UAE unveils $1bn Yemen energy rebuild, signalling new opportunities for European renewables and grid partners (Photo: AETOSWire) According to the UAE’s Ministry of Foreign Affairs, the decision was disclosed during the UAE’s participation in the first Yemen National Energy Conference (YFNEC 2025) recently. UAE’s Ambassador to Yemen Mohamed Hamad Al Zaabi reaffirmed the country’s commitment to advancing sustainable energy in Yemen, addressing longstanding grid challenges and strengthening public–private partnerships to stimulate future investment. The country’s renewed intervention arrives as Europe ac
LambdaTest Elevates Mudit Singh to Co-Founder as the Company Accelerates Its Next Phase of Growth4.12.2025 17:00:00 CET | Press release
Strengthening leadership as LambdaTest accelerates its next phase of AI-powered testing innovation and enterprise growth LambdaTest, a leading GenAI-native quality engineering platform, today announced the promotion of Mudit Singh to Co-Founder. This move recognizes his contributions in shaping the company's growth, strengthening its global brand, and driving product adoption across key markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204685161/en/ Mudit Singh, Co-Founder and Head of Growth, LambdaTest Mudit joined LambdaTest in 2017 and has been instrumental in building the company's marketing engine, product-led growth initiatives, and community programs. Under his leadership as Head of Marketing and Growth, LambdaTest expanded its enterprise footprint, launched high-impact campaigns, and became a trusted partner for thousands of development and QA teams worldwide. "Mudit has been part of LambdaTest's story since
Rigaku Launches XTRAIA MF-3400, a Measuring Instrument for Next-generation Semiconductors4.12.2025 16:00:00 CET | Press release
High-precision wafer measurement meets surging demand from AI and data centers Rigaku Corporation, a global solution partner in X-ray analytical systems and a group company of Rigaku Holdings Corporation (headquarters: Akishima, Tokyo; CEO: Jun Kawakami; hereinafter “Rigaku”) has launched the XTRAIA MF-3400, an instrument used in semiconductor manufacturing processes to measure the thickness and composition of wafers. The XTRAIA MF-3400 will significantly enhance productivity in the rapidly growing semiconductor market by enabling high-accuracy evaluation of materials essential for mass production of next-generation memory chips and high-speed AI devices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204537975/en/ XTRAIA MF-3400 As generative AI and data centers continue to expand, demand is rising for high-performance, energy-efficient semiconductors capable of processing vast volumes of data. Consequently, semiconducto
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom