Sixth Street, a global investment firm, has agreed to take a majority stake in Bermudian-based Monument Re.

The life insurer and reinsurer, which is focused on the acquisition and management of in‑force life insurance portfolios across Europe, added that the transaction would provide fresh capital and resources to accelerate its strategic initiatives and further strengthen its market position.

The deal involves investment vehicles managed or advised by Sixth Street entering a definitive agreement to acquire a majority stake in Monument Re.

Hannover Re will continue as a key shareholder, Monument Re said in a statement. After closing, Monument will continue to operate as a stand-alone company.

Sixth Street, which over $130 billion in assets under management and committed capital, already has significant interests in the Bermuda re/insurance market. A year ago, investment vehicles managed by Sixth Street acquired legacy insurer Enstar Group in a deal worth $5.1 billion.

Carlo Elsinghorst, group chief executive officer of Monument Re, said: “Monument is excited about the support our shareholders are showing at this pivotal moment for our company. The combined market presence and deep expertise of Sixth Street and Hannover Re put us in a fantastic position as we continue on our growth path.”

Rohan Singhal, partner and head of insurance at Sixth Street, said: “This investment reflects our deep conviction in the European market and our approach of partnering with strategics as a model for success.

“We look forward to fulfilling Monument’s potential as a leading consolidator in its core markets, while maintaining a focus on long-term security for policyholders.”

Brona Magee, executive board member for life and health at Hannover Re, said: “We welcome Sixth Street’s investment in Monument and view it as an important step for the company’s future growth and development. Hannover Re values the strong partnership with Monument and will continue to support the company as a reinsurance partner and shareholder.

Sixth Street Insurance advises on more than $125 billion of insurance company assets.

The transaction is expected to close by the end of 2026 and is subject to regulatory approvals and other customary closing conditions.