Monument Re Completes Acquisition of Portfolio From Contassur – Contibel Assurances Vie – Contibel Levensverzekeringen SA/NV
July 02 2024 - 4:53AM
Business Wire
Monument Re Limited announced today that its Belgian subsidiary
Monument Assurance Belgium N.V. has completed the acquisition of a
branch 21 closed book classical group life insurance portfolio from
Contassur – Contibel Assurances Vie – Contibel Levensverzekeringen
SA/NV (“Contassur”), following receipt of regulatory approval from
the National Bank of Belgium.
Koen Depaemelaere, CEO of Monument Assurance Belgium and Carlo
Elsinghorst, Group CEO of Monument Re Limited commented, “We are
delighted to share that we have completed the acquisition of this
portfolio from Contassur, marking another positive step in our
consolidation strategy for Belgium”.
Monument Assurance Belgium is a Belgian life assurance
company regulated by the National Bank of Belgium. Monument
Assurance Belgium is a member of the Monument Re Group and has
established itself as the leading consolidator of life insurance
and pension portfolios in Belgium.
Monument Re Limited is a life insurance reinsurer and insurance
holding company with a proven track record in acquiring
capital-intensive European portfolios. Monument Re is present in
Bermuda which, like Switzerland, is subject to requirements
comparable to Solvency II in Europe. The Monument Re Group also
operates through its subsidiaries in Belgium, Ireland, Isle of Man
and Luxembourg, with branches in Spain, Italy and Germany.
Monument Insurance Group Limited is the parent company of the
Monument group of companies (the “Group” or “Monument”). Each
entity is subject to local regulation and Monument is subject to
insurance group supervision by the Bermuda Monetary Authority.
For further information:
To learn more, please visit our website at
www.monumentregroup.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240701721213/en/
Fiona Davies or Olivia Bonner
communications@monumentregroup.com