Monument Re's European subsidiary, Monument Assurance Belgium NV, has completed the acquisition of a run-off portfolio of traditional life and credit life business from Alpha Insurance SA, a Belgian composite insurance company.
Alpha Insurance SA is a wholly-owned subsidiary of Enstar Group Limited.
The terms of the transaction were not disclosed.
In accordance with the approval of the National Bank of Belgium (“NBB”), the portfolio transfer into Monument Assurance Belgium was made effective May 31, 2019, with the policy terms and conditions unchanged, Monument Re said in a statement.
Learn more: www.monumentregroup.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].