Monument Re completes acquisition of portfolio from Contassur

Monument Re announced that its Belgian subsidiary, Monument Assurance Belgium N.V., has completed the acquisition of a closed book classical group life insurance portfolio (branch 21) from Contassur, after receiving regulatory approval from the National Bank of Belgium.

Monument Assurance Belgium, regulated by the National Bank of Belgium, is part of the Monument Re Group and is a consolidator of life insurance and pension portfolios in Belgium.

Monument Re, based in Bermuda, is a life insurance reinsurer and holding company with expertise in acquiring European portfolios. The Group operates in Belgium, Ireland, Isle of Man, and Luxembourg, with branches in Spain, Italy, and Germany. Monument Re is supervised by the Bermuda Monetary Authority, with local entities regulated accordingly.