Monument Re acquires life portfolio
Bermudian-domiciled Monument Re’s Luxembourg subsidiary, Monument Assurance Luxembourg SA, has reached an agreement with Integrale Luxembourg to acquire its closed-book portfolio of long-term life insurance business.
The portfolio serves mainly the Luxembourg, Dutch and French markets, and is strategically aligned to MAL’s existing business model.
The portfolio and its employees will transfer into Monument’s Luxembourg operations upon receipt of all necessary regulatory approvals from the Bermuda Monetary Authority and the Commissariat aux Assurances, which regulates life insurance companies in Luxembourg.
Monument Re Limited is a life reinsurance and insurance holding company with a presence in Bermuda, Ireland, Belgium, Luxembourg, the Netherlands, the Isle of Man and Guernsey, with branches in Spain, Italy and Germany. Monument Re operates as a reinsurer and acquirer of European asset-intensive portfolios.
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