Monument Re acquires MetLife European portfolio

03-04-2019

Bermuda-based Monument Re has acquired a run-off portfolio of linked and traditional business from MetLife Europe, although financial terms of the transaction were not disclosed.

The portfolio was transferred into Monument Re’s Irish subsidiary, Laguna Life, in accordance with the approval of the Irish High Court.

MetLife Europe transacts life assurance business and certain non-life business, and has branches in the UK, Italy, Spain, Portugal, France, Bulgaria, Slovakia, Czech Republic, Hungary, Cyprus and Romania.  

This deal follows Monument Re’s recent acquisition of a €140m ($157.2m) portfolio of Irish annuities from Rothesay Life, a UK provider of insurance solutions for pensions de-risking.

Monument Re, Run-off, MetLife, Europe

Bermuda Re