Monument Re acquires run-off portfolio from Metlife Europe
Bermuda-based Monument Re has acquired a run-off portfolio of linked and traditional business from Metlife Europe, initially through reinsurance to Monument Re, followed by the transfer of the portfolio to its European subsidiary Laguna Life upon receipt of court approvals.
The acquired portfolio covers in excess of 9,000 policies, with assets of approximately €500 million.
Manfred Maske, CEO of Monument Re Group, said: “We are pleased to announce this transaction, subject to regulatory approval, as we continue to execute our Ireland consolidation strategy and firmly establish our long-term presence there.”
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