Monument Re acquires life insurance portfolio from Contassur

Monument Re has announced that its Belgian subsidiary, Monument Assurance Belgium, has successfully acquired a branch 21 closed book classical group life insurance portfolio from Contassur.

Koen Depaemelaere, CEO of Monument Assurance Belgium and Carlo Elsinghorst, Group CEO of Monument Re Limited commented, “We are delighted to share that we have completed the acquisition of this portfolio from Contassur, marking another positive step in our consolidation strategy for Belgium”.

Monument Assurance Belgium, a Belgian life assurance company and a member of the Monument Re Group, has established itself as a prominent consolidator of life insurance and pension portfolios in Belgium.

Monument Re is a life insurance and reinsurance holding company with a strong track record in acquiring capital-intensive European portfolios.

This acquisition follows Monument Re’s recent deal in February, where it completed the acquisition of the closed portfolio of long-term life insurance business from Integrale Lux S.A. through its Luxembourg subsidiary, Monument Assurance Luxembourg S.A. (MAL).