Monument Re buys Belgian book of life insurance

Monument Re has purchased a closed portfolio book of life insurance business in Belgium, saying it marked another step in making its the leading consolidator of life insurance in that country. 

Bermuda-based Monument's subsidiary Monument Assurance Belgium completed the acquisition of the branch 21 closed book classical group life insurance portfolio from Contassur – Contibel Assurances Vie – Contibel Levensverzekeringen SA/NV, following receipt of regulatory approval from the National Bank of Belgium.

The size of the acquisition and terms were not disclosed. 

Koen Depaemelaere, CEO of Monument Assurance Belgium and Carlo Elsinghorst, Group CEO of Monument Re Limited said: “We are delighted to share that we have completed the acquisition of this portfolio from Contassur, marking another positive step in our consolidation strategy for Belgium”.

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