Monument Re acquires run-off portfolio from Enstar subsidiary
Bermuda-based Monument Re has acquired a run-off portfolio of traditional life and credit life business from Alpha Insurance, a Belgian composite insurance company and a wholly-owned subsidiary of Enstar Group.
Upon receipt of regulatory approvals, the portfolio will transfer to Monument Assurance Belgium, the Belgian carrier of the Monument Re Group.
Manfred Maske, CEO of Monument Re Group, said: “This acquisition marks our second transaction in Belgium and is an excellent bolt-on portfolio for Monument Assurance Belgium. As part of our insurance strategy, we view Belgium as a key life consolidation market for Monument Re and anticipate increasing levels of transaction activity, especially in medium sized portfolios requiring capital solutions.”
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