Monument Re Acquires Portfolio From Integrale
Monument Re announced today that its Luxembourg subsidiary Monument Assurance Luxembourg S.A. [MAL] reached an agreement with Integrale Luxembourg to acquire its closed book portfolio of long term life insurance business.
A spokesperson said, “The portfolio serves mainly the Luxembourgish, Dutch and French markets, and is strategically aligned to MAL’s existing business model.
“The portfolio and its employees will transfer into Monument’s Luxembourg operations upon receipt of all necessary regulatory approvals from the Bermuda Monetary Authority [BMA] and the Commissariat aux Assurances [CAA].”
