Monument Re Completes Closing Of Acquisition
Monument Re through its subsidiary Monument Assurance Belgium [MAB] has completed the Closing of the acquisition of the entire insurance portfolio and personnel of Integrale.
A spokesperson said, “All the preconditions for the conclusion of this transaction have therefore been fulfilled. This acquisition which fits perfectly with Monument Re’s growth strategy is good news for policyholders who will be able to benefit from the continuity of professional services. Integrale’s staff will transfer into the Monument Group and be able to enjoy the advantages associated with a growing insurance company in Belgium and beyond.
“On 15th December, Monument Re completed the Closing of the acquisition of Integrale’s entire insurance portfolio and personnel. This means that the relevant assets and liabilities of Integrale’s balance sheet were transferred to Monument Re’s Belgian subsidiary MAB. This is excellent news for both the policyholders who are now insured by MAB and for the personnel of Integrale whose employment is safeguarded and who will continue to serve their customers from Liege.
“With its in-depth expertise of the insurance market, Monument Re will continue expanding the activities of the Group, especially in Belgium. MAB is headed in Belgium by Koen Depaemelaere, CEO.”
Koen Depaemelaere, CEO of MAB said: “We are delighted that we have been able to meet all the conditions to bring this acquisition to a successful conclusion. With this portfolio transfer, we created a solution with the necessary guarantees for policyholders and protections and continuity of staff. This transaction is fully in line with our growth strategy in Belgium and strengthens our position as a leading life insurance consolidator.”
“This transfer fits perfectly into the broader consolidation strategy of Monument Re so we are very pleased to welcome our new colleagues into the broader Monument Re Group,” said Manfred Maske, CEO of Monument Re Group.
