NEWS

Monument Re Acquires Portfolio From Alpha Insurance S.A.

Hamilton, Bermuda
8th November, 2018

Monument Re Group announced today that, subject to regulatory approval, it has acquired a run-off portfolio of traditional life and credit life business from Alpha Insurance S.A., a Belgian composite insurance company and a wholly-owned subsidiary of Enstar Group Limited. Upon receipt of regulatory approvals, the portfolio will transfer to Monument Assurance Belgium NV, the Belgian carrier of the Monument Re Group.

Manfred Maske, CEO of Monument Re Group, said that:  “This acquisition marks our second transaction in Belgium and is an excellent bolt-on portfolio for Monument Assurance Belgium. As part of our insurance strategy, we view Belgium as a key life consolidation market for Monument Re and anticipate increasing levels of transaction activity, especially in medium sized portfolios requiring capital solutions.”

Alpha represents Monument Re’s eighth acquisition in Europe. Transfer of the portfolio will follow satisfaction of customary closing conditions, including receipt of regulatory approvals.

About Alpha Insurance S.A.

Alpha Insurance S.A., formerly “Nationale Suisse Belgium”, is a Belgian composite insurance company authorised by the National Bank of Belgium. Alpha Insurance S.A. is a wholly-owned subsidiary of Enstar Group Limited (Nasdaq: ESGR).

About Monument Re and Monument Assurance Belgium

Monument Re Limited (“Monument Re”) is a Class E reinsurer and Holding Company subject to Group Supervision by the Bermuda Monetary Authority.  Monument Re is a Bermuda based reinsurer established to operate as an asset intensive reinsurer and acquirer principally in Europe.

Monument Assurance Belgium is a part of the Monument Re group and operates as a closed book consolidator of life portfolios in Belgium under the supervision of the National Bank of Belgium.

CONTACTS

Monument Re

Victoria Place
31 Victoria Street
Hamilton HM 10
Bermuda

+441 400 9300

Laguna Life DAC

Europa House
Block 9, Harcourt Centre
Harcourt Street
Dublin 2
Ireland

UK 0800 0969 127
Spain 902 12 72 72

Monument Assurance Belgium

Koloniënstraat | rue des Colonies 11
1000 Brussel | Bruxelles
Belgie | Belgique
 

+32 (0) 78 050 006

Monument Assurance Luxembourg S.A.

5, rue Eugène Ruppert
L-2453 Luxembourg

+352-264 98 1

Monument Insurance DAC
Monument Assurance DAC

Europa House
Block 9, Harcourt Centre
Harcourt Street
Dublin 2
Ireland

 

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