Monument Re is a Bermuda based Reinsurer and Consolidator with a proven track-record of successfully acquiring and operating portfolios or direct insurers in Europe, primarily those in run-off. We focus on annuity, guaranteed savings or protection product lines. At all times, we are mindful of the impact of acquisitions or transfers on staff and policyholders and seek to work with the seller in these situations.
Over the first three years since commencing in 2017, Monument has executed a number of transactions in Ireland, the Benelux region and the Crown Dependencies as part of the first phase of the roll-out of its strategy. Using Ireland as our starting point and base for a number of group services, we have completed a number of acquisitions of subsidiaries, portfolios and cross-border portfolio transfers with a range of counterparts from smaller entities through to multinational insurance and / or banking groups. The Benelux region represents a key area of focus for the group where we have completed a number of acquisitions again from a range of counterparties which collectively establish an excellent platform for further growth. We are actively developing growth opportunities in these areas but also in the Crown Dependencies where we have a footprint with our first acquisition in Guernsey. Our focus remains on achieving meaningful scale in these territories as part of our first phase of development while starting to initiate opportunities in our second phase.
These transactions have a common thread in that the portfolios are typically sub-scale with margins that are under pressure from the lower-for-longer Euro interest rate environment and heightened Solvency II capital requirements alongside overall burden of reporting under Solvency II for a smaller book. With each successful acquisition, we work hard to ensure a smooth transition by ensuring continuity of service, integration of staff into the Monument group and by aligning the new portfolios to the Monument structure, framework and policies over all functions and areas. The result is that we currently operate successfully in more than 10 jurisdictions with approximately 0.5 million policyholders in the group.
Monument Re is backed by high quality shareholders which include Hannover Re, the world’s third largest reinsurer, NYSE listed Enstar, a leading P&C run-off consolidator, and E-L Financial, the parent company of Canadian life insurer Empire Life. The Company has a seasoned Board of Directors, chaired by Jonathan Yates, former Chief Executive Officer of Guardian Financial Services, and a strong management team led by Manfred Maske.
Our Subsidiary Companies
For customer service, policy administration, or claim information, please select the company you wish to contact from the list below.
4 Par-la-Ville Road
+1 441 400 9300
Monument Life Insurance DAC
Two Park Place,
Upper Hatch Street,
Monument Assurance Belgium S.A.
Boulevard du Roi Albert II 19 - 1210 Brussels – Belgium
+32 (0) 78 050 006 | +32 (0) 4 232 44 11
Monument Assurance Luxembourg S.A.
5, rue Eugène Ruppert
+352-264 98 1
Monument International Life Assurance Company Limited
St George’s Court
Upper Church Street
Isle of Man IM1 1EE
+44 1624 683 683
Nordben Life and Pension Insurance Co. Limited
OLD bank chambers
La grande rue
AME Life Lux S.A.
Atrium Business Park, 41 Rue du Puits Romain
+352 47 46 93