Bermuda-based reinsurer Monument Re has announced the completion of its acquisition of Robein Leven N.V. from Amerborgh Financial Services B.V.
Monument Re acquired the Dutch insurer and its subsidiaries following receipt of regulatory approval by the De Nederlandsche Bank (DNB).
First announced in July 2018, Monument Re previously stated that the transaction would establish its long-term presence in the Netherlands as part of its Benelux strategy.
The acquisition will expand the company’s existing presence in Bermuda, Ireland, Belgium and Luxembourg
“We are pleased to announce the regulatory approval from the De Nederlandsche Bank and the completion of our acquisition of Robein in the Netherlands,” said Manfred Maske, CEO of Monument Re Group. “We look forward to further growth and opportunity with this platform.”
Monument Re is a Class E reinsurer that specialises in the acquisition of run-off, closed and asset-intensive insurers.
The company’s other recent deals include the acquisition of run-off portfolios from Belgian insurers Ethias S.A and Alpha Insurance S.A., a wholly owned subsidiary of Enstar Group Limited.
It also completed its acquisition of Aspecta Assurance International Luxembourg S.A. in October, which has since been renamed as Monument Assurance Luxembourg.
