Monument Re to sell Dutch closed life insurer acquired in 2018

Bermuda-based reinsurer Monument Re has agreed to sell Robein Leven, the Dutch closed life insurer it  acquired in 2018 as part of its growth strategy in the Benelux region.

Monument Re is set to sell Robein Leven N.V. and its subsidiary Robein Effectendienstverlening to Chesnara through its existing Netherlands-based platform, the Waard Group.

Robein Leven is a closed life insurer domiciled in the Netherlands with traditional and linked savings products, mortgages and annuities. The business was acquired by Monument Re in mid-2018 from Amerborgh Financial Services.

In a joint statement, Monument Re and Chesnara said that they are committed to providing continuity of services during the period of transition and will take all steps necessary to prepare for a seamless transfer for policyholders and staff.

Change of control of the companies will follow satisfaction of customary closing conditions, including receipt of regulatory approvals.