Monument Re assumes reinsurance agreement from Enstar’s Enhanzed Re

Bermuda-based reinsurer  Monument Re has agreed the novation of a retrocession agreement from Enhanzed Re, a subsidiary of Enstar Group.

The retrocession agreement was originally written in 2020, and covers a block of annuity policies. The portfolio consists of both deferred annuities and whole of life policies.

There are no changes to any of the underlying terms as Monument Re will assume all rights, liabilities and obligations of the Retrocessionaire under the novation agreement.

Manfred Maske (pictured), group CEO of Monument Re, said: “We are very pleased to have reached agreement with Enhanzed Re. The novation of this portfolio is in line with our reinsurance strategy and risk appetite and fits squarely into our rapidly growing reinsurance portfolio.”

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