HAMILTON, Bermuda--(BUSINESS WIRE)--Monument Re announced today that its European subsidiary Monument Assurance Belgium NV completed the acquisition of a run-off portfolio of traditional life and credit life business from Alpha Insurance SA, a Belgian composite insurance company. Alpha Insurance SA is a wholly-owned subsidiary of Enstar Group Limited. The terms of the transaction were not disclosed.
In accordance with the approval of the National Bank of Belgium (“NBB”), the portfolio transfer into Monument Assurance Belgium is made effective 31 May 2019, with the policy terms and conditions unchanged.
About Alpha Insurance S.A.
Alpha Insurance SA, formerly “Nationale Suisse Belgium”, is a Belgian composite insurance company authorised by the National Bank of Belgium. Alpha Insurance SA 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 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.
To learn more, please visit www.monumentregroup.com or contact Manfred Maske, CEO, info@monumentregroup.com, +1(441) 400-9300.