Offshore law firm Appleby is advising Monument Re Limited on its acquisition of Charles Taylor Group’s Isle of Man operations, which principally comprise its life insurance company, LCL International Life Assurance Company Limited, and Charles Taylor Holdings (IOM) Limited.
Monument Re Limited is a life reinsurance and insurance holding company with a presence in Bermuda, Ireland, Belgium, Luxembourg, the Netherlands and Guernsey, with branches in Spain, Italy, France and Germany. It operates as a reinsurer and acquirer of European asset-intensive portfolios.
Charles Taylor is a global provider of professional services and technology solutions, which employs approximately 3,000 staff in more than 120 locations across 30 countries.
The deal, is subject to customary closing conditions, including receipt of regulatory approvals.
Appleby’s corporate and insurance team is being led by Garry Manley and also includes Michelle Brook, Sophie Corkish, Jennifer Vernon-Browne and Ruby Roberts. They are being assisted in the Isle of Man by Caren Pegg (employment), Claire Milne (intellectual property), Juan Thornley (pensions), Katherine Johnson (data protection) and Sophia Howell-Evans (regulatory). Andrew Weaver and Daniel Healy are advising on Jersey law matters.
Garry Manley told B365: “We are delighted to be working with Monument Re on its first Isle of Man acquisition. This is a landmark transaction, which underlines Appleby’s position as the pre-eminent firm for acquisitions of Isle of Man insurers, and we look forward to working with all parties to ensure a smooth closing.”
Appleby is working closely with Travers Smith, which is acting as English counsel to Monument Re Limited.
Appleby’s Merger & Acquisitions Team regularly works with FTSE 100 and Fortune 500 companies around the globe to help them deploy strategic growth and restructuring initiatives, whether involving single jurisdictions or complex multi-jurisdictional, multi-disciplinary transactions.