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.

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.