Reinsurance News

Monument Re acquires Guernsey insurer Nordben Life and Pension

27th June 2019 - Author: Matt Sheehan

Bermudian reinsurer Monument Re has announced the completion of its acquisition of Nordben Life and Pension Insurance Co. Limited.

monument-re-logoNordben is a Guernsey-based company licensed to carry out long-term and general insurance business, which has been closed to all new business since early 2016.

Monument Re took over the business from its previous owner BenCo Insurance Holding B.V., after receiving regulatory approval from the Guernsey Financial Services Commission (GFSC).

Manfred Maske, Chief Executive Officer (CEO) of Monument Re Group, commented on the deal: “The completion of this transaction positions the Monument Group well in executing its strategy in the Crown Dependencies.”

Monument Re is a Bermuda Class E reinsurer that specialises in the acquisition of run-off, closed and asset-intensive insurers, primarily in the European marketplace.

Terms of the transaction were not disclosed.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Swiss Re Corporate Solutions adds Patrice Nigon to Asia Pacific role

Swiss Re Corporate Solutions, the commercial insurance arm of reinsurance giant Swiss Re Group, has announced the appointment of Patrice...