Life insurance and reinsurance holding company, Monument Re, has completed its previously announced agreement to acquire the closed portfolio long-term life insurance business from Integrale Lux S.A. through its Luxembourg subsidiary, Monument Assurance Luxembourg S.A. (MAL).
Integrale’s portfolio serves mainly the Luxembourgish, Dutch and French markets, and is strategically aligned to MAL’s existing business model.
The portfolio was transferred to MAL with unchanged terms and conditions for policyholders.
Under the terms of the acquisition, the portfolio and its employees will transfer into Monument’s Luxembourg operations.
In August 2023, Monument Re, through its Belgian subsidiary, Monument Assurance Belgium (MAB) completed the acquisition of a run-off block of retail life policies, annuities and associated assets from Federale Verzekering (Federale).
In November 2022, Monument Re, again through MAB, completed the acquisition of a run-off life insurance portfolio with BEGAAP provisions of €2.6 billion from AXA Belgium.
Additionally, in June 2022, Monument Re acquired the closed book portfolio of Zurich International Life Limited’s Singapore long-term life insurance business.
