Monument Re, a life insurance reinsurer and insurance holding company, has announced that it’s Belgian subsidiary, Monument Assurance Belgium (MAB) has completed the acquisition of a run-off block of retail life policies, annuities and associated assets from Federale Verzekering (Federale).
“We are pleased to have completed this transaction with Federale as it represents a positive continuation of our consolidation strategy in Belgium,” commented Koen Depaemelaere, CEO of Monument Assurance Belgium.
Over the past couple of years, Monument Re has made a number of acquisitions across the industry.
If you recall, back in May 2023, Monument Re announced that its Luxembourg subsidiary Monument Assurance Luxembourg S.A. (MAL), had reached an agreement with Integrale Luxembourg to acquire its closed book portfolio of long term life insurance business.
Then if we turn back to November 2022, Monument Re’s Isle of Man subsidiary, Monument International Life Assurance Company Limited (MILAC) completed its acquisition of the closed book portfolio of Zurich International Life Limited’s (ZILL) Singapore long term life insurance business.
In that same month, it was also reported that through MAB, the company also completed the acquisition of a run-off life insurance portfolio with BEGAAP provisions of €2.6 billion from AXA Belgium.
