Monument Re completes acquisition of Nordben

Monument Re has completed its acquisition of Nordben Life and Pension Insurance from BenCo Insurance Holding.

Nordben, a Guernsey-based company, is licensed to carry out long-term and general insurance business but has been closed to all new business since early 2016.

Manfred Maske, CEO of Monument Re Group, said: “The completion of this transaction positions the Monument Group well in executing its strategy in the Crown Dependencies.”

The deal was approved by the Guernsey Financial Services Commission.