Monument Re acquires Zurich Insurance business in Singapore

The Bermuda-based buyer plans to integrate Zurich International Life Limited Singapore’s business and employees into its new Singapore life insurance industry.

The insurer’s monument Re indicates on Wednesday that it had acquired the Zurich Singapore branch from the insurer’s eponymous long-term life insurance portfolio. The Bermuda-based buyer plans to integrate Zurich International Life Limited Singapore’s business and employees into its new Singapore life insurance industry.

“Be assured that no activity other than our long-term life insurance portfolio in Singapore will be really affected,” said Reginald Peacock, head of Zurich Singapore. The latter ignores the financial outlines and the scope of the transaction.

The operation must be approved by the Isle of Man authorities, headquartered in Zurich International Life Limited with Monument International Life Assurance Company Limited, as well as in Singapore.

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