Monument Re completes transfer of closed book portfolio

Bermuda-based Monument Re has completed the transfer of a closed book portfolio of long term life insurance from Integrale Luxembourg. 

The long term re/insurer said the portfolio mainly serves the Dutch, French and Luxembourgish markets and was transferred with unchanged terms and conditions for policyholders.

The transaction was completed by Monument Re’s Luxembourg subsidiary Monument Assurance Luxembourg and aligned with its strategic objectives.

The size of the portfolio and terms of the transfer, which was first announced in May 2023, were not disclosed.  

Monument Re is a reinsurer and asset consolidator with a track record in the acquisition and operation of portfolios or direct insurers in Europe.