Monument Assurance To Acquire AMELL
Monument Re announced today subject to necessary regulatory approval, Monument Assurance Luxembourg will acquire AME Life Luxembourg [AMELL] from French Mutual Insurance Group Covéa.
A spokesperson said, “AMELL is a well-established Luxembourg-based life insurance company with market presence in Luxembourg, Belgium and Italy. Financial terms of the transaction were not disclosed. The transaction will have no impact on AMELL clients and policyholders.”
“We are pleased to have reached agreement with Covéa to acquire its subsidiary AMELL. This transaction represents an important step in our consolidation strategy by further strengthening our presence in Luxembourg,” said Manfred Maske, CEO of Monument Re.
Change of control of the company will follow satisfaction of customary closing conditions, including receipt of regulatory approvals.
