Monument Re Acquires Portfolio From Metlife
Monument Re announced today that, subject to regulatory approval, it has acquired a run-off portfolio of linked and traditional business from Metlife Europe d.a.c. initially through reinsurance to Monument Re followed, upon receipt of court approvals, by the transfer of the portfolio to Laguna Life d.a.c. The portfolio covers in excess of 9,000 policies, with assets of approximately €500m.
Manfred Maske, CEO of Monument Re Group, said that “We are pleased to announce this transaction, subject to regulatory approval, as we continue to execute our Ireland consolidation strategy and firmly establish our long-term presence there.”
Transfer of the portfolio will follow satisfaction of customary closing conditions, including receipt of regulatory approvals.
