Monument Assurance Belgium has wrapped up the previously announced acquisition of a run-off portfolio of traditional life and credit life business from Alpha Insurance.

The transaction completed following the receipt of regulatory approval from the National Bank of Belgium (NBB).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Financial terms of the transaction, which was originally signed in November last year, were not disclosed.

Earlier, Monument Re Group CEO Manfred Maske said: “This acquisition marks our second transaction in Belgium and is an excellent bolt-on portfolio for Monument Assurance Belgium.

“As part of our insurance strategy, we view Belgium as a key life consolidation market for Monument Re and anticipate increasing levels of transaction activity, especially in medium-sized portfolios requiring capital solutions.”

Formerly “Nationale Suisse Belgium”, Alpha Insurance is a Belgian composite insurance company and operates as a wholly- owned subsidiary of Enstar Group.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Monument Assurance Belgium is part of the Bermudian reinsurer Monument Re Group. It operates as a closed book consolidator of life portfolios in Belgium under the supervision of the NBB.

Last month, Monument Re, through its European subsidiary Laguna Life, completed the takeover of a run-off portfolio of linked and traditional business from MetLife Europe.

During the same month, Monument Re agreed to acquire the €140m ($156m) portfolio of Irish annuities from Rothesay Life.

In March this year, Monument Re signed a definitive agreement to purchase Inora Life DAC from Societe Generale.