HAMILTON, Bermuda–(BUSINESS WIRE)–
Monument Re announced today that its Belgian subsidiary Monument Insurance Belgium (“MAB”) has finalized the acquisition of a life insurance portfolio in run-off with BEGAAP provisions of €2.6 billion of AXA Belgiumafter receiving regulatory approval from the National Bank of Belgium.
Monument Insurance Belgium is a Belgian life insurance company regulated by the National Bank of Belgium. MAB is a member of Monument Re Group and has established itself as the leader in the consolidation 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 of acquiring capital-intensive European portfolios. Monument Re is present in Bermuda who, like Swissis subject to requirements comparable to Solvency II in Europe. The Monument Re group also operates through its subsidiaries in Belgium, Irelandthe Isle of Man, Guernsey and Luxembourg, with branches in Spain, Italyand Germany. Each entity is subject to local regulations and Monument Re is subject to Group Supervision by the Bermuda Monetary Authority.
Monument Re is subject to group supervision by the Bermuda Monetary Authority.
For more information:
To learn more, please visit our website at www.monuentregroup.com.
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Fiona Davies at [email protected]+1(441) 400-9300
Source: Monument Ré
