Monument Re completes acquisition of GreyCastle

Monument Re has completed the acquisition of GreyCastle Holdings and its subsidiaries, which include GreyCastle Life Reinsurance and GreyCastle Services.

It comes after the deal received approval from the Bermuda Monetary Authority.

GreyCastle was founded in 2014 by a group of institutional investors to reinsure a block of XL Life Reinsurance life and annuity liabilities of approximately $4 billion.