Debevoise Advises GreyCastle in its Sale to Monument Re

31 March 2020

Debevoise & Plimpton LLP has advised GreyCastle Holdings Ltd (“Greycastle”) and its shareholders on its sale to Monument Re.

The transaction includes Monument Re’s acquisition of GreyCastle’s subsidiaries, which include GreyCastle Life Reinsurance (SAC) Ltd and GreyCastle Services.

The acquisition is subject to regulatory approval.

GreyCastle was founded in 2014 by a group of institutional investors to reinsure a significant block of XL Life Reinsurance life and annuity risks. It is domiciled in Bermuda.

Monument Re is a life reinsurance and insurance holding company with presence in Bermuda, Ireland, Belgium, Luxembourg, the Netherlands and Guernsey, and branches in Spain, Italy, France and Germany. Monument Re operates as a reinsurer and acquirer of European asset intensive portfolios.

The Debevoise team advising GreyCastle is led by partner Alexander R. Cochran, international consultant Clare Swirski, and international counsel Benjamin Lyon. It includes associates Sarah Hale, Kristen A. Matthews, Clarissa McNerney, and Katie Power. Finance advice is being provided by partner Alan Davies and associate Almas Daud. Tax advice is being provided by partner Richard Ward and associate Paul Eastham. Competition advice is being provided by partner Timothy McIver and associate Anne-Mette Heemsoth. Employment, outsourcing and GDPR advice is being provided by associate Christopher Garrett.