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21 February 2022Insurance

French mutual Covéa sells Luxembourg life subsidiary to Monument Re

Bermuda-based reinsurer Monument Re has acquired the Luxembourg-based life insurance company from French mutual insurer Covéa.

Monument Re’s Luxembourg subsidiary Monument Assurance Luxembourg S.A. has completed the acquisition of AME Life Lux S.A. (AMELL) following receipt of regulatory approval from the Commissariat aux Assurances.

Financial terms of the transaction were not disclosed.

AMELL is a life insurance company with market presence in Luxembourg and Belgium.

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More on this story

Monument Re picks Belgium as key target market; strikes deal with AXA

22 December 2021 The deal follows earlier acquisitions of six other Belgian portfolios as part of its consolidation strategy.

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19 April 2022 The company has concluded an annuity reinsurance transaction with Countrywide.

Monument Re splits top leadership roles to improve growth prospects

5 May 2022 It hopes the move will enable entry into new markets and unlock more opportunities.

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