NEWS

Sale of Irish insurance businesses completes

Barclays has completed the sale of Barclays Insurance (Dublin) Designated Activity Company and Barclays Assurance (Dublin) Designated Activity Company to Monument Re Limited for an undisclosed sum.

The two businesses provide underwriting services for payment protection insurance and income protection policies, which Barclays ceased to sell between 2010 and 2012. The sale includes the portfolio of c.500,000 remaining policies and related licences. 24 employees will also become part of Monument Re. Barclays will retain any PPI-related risks associated with the portfolio.

Barclays Bank Ireland operations, including Corporate Banking and Wealth and Investment Management, will continue to provide a full range of banking services as normal.

Harry Harrison, Head of Barclays Non-Core commented:

“This is another positive step in reducing and simplifying the Barclays Non-Core portfolio of assets and activities, which further supports the decision to close the unit at the end June 2017.

“I want to thank our colleagues who are moving to Monument Re and wish them every success in the future.”

Manfred Maske, Group CEO, Monument Re Group commented:

“Monument Re is pleased to complete this transaction as we progress with our strategy of closed book consolidation and we welcome our new colleagues to the Group.”

Original Article

Posted by Barclays
March 2, 2017

Latest News

News Archives

CONTACTS

Monument Re

Crown House
4 Par-la-Ville Road
Hamilton HM08
Bermuda

+1 441 400 9300

Monument Life Insurance DAC

Two Park Place,
Upper Hatch Street,
Dublin 2
Ireland

Monument Assurance Belgium S.A.

Boulevard du Roi Albert II 19 - 1210 Brussels – Belgium

+32 (0) 78 050 006 | +32 (0) 4 232 44 11  

Monument Assurance Luxembourg S.A.

Atrium Business Park
29, rue du Puits Romain
L- 8070 Bertrange
Luxembourg

+352-264 98 1

Monument International Life Assurance Company Limited

St George’s Court
Upper Church Street
Douglas
Isle of Man IM1 1EE

+44 1624 683 683

 

Monument Re Limited © 2024 All rights reserved  | Terms of UsePrivacy Policy Cookies PolicyCompany Registrations | Tax Strategy