HAMILTON, Bermuda--(BUSINESS WIRE)--Monument Re announced today that it has acquired a closed book of life business from Curalia OVV, a Belgian mutual insurance company. The portfolio transfers into Monument Assurance Belgium NV, the Belgian carrier of the Monument Re Group. The terms of the transaction were not disclosed.
Curalia’s transaction represents Monument Re’s twelfth acquisition in Europe. The policy terms and conditions of the contracts will remain unchanged.
About Curalia OVV
Curalia OVV is a Belgian mutual insurance company authorised by the National Bank of Belgium.
About Monument Re and Monument Assurance Belgium
Monument Re is a life Reinsurance and Insurance Holding Company with presence in Bermuda, Ireland, Belgium, Luxembourg, the Netherlands and Guernsey and branches in Spain, Italy, France and Germany. Monument Re operates as a reinsurer and acquirer of European asset intensive portfolios. Through its strategy, Monument Re looks to assume asset based risks within its risk appetite and efficiently operate these businesses or portfolios.
Monument Re is subject to Group Supervision by the Bermuda Monetary Authority.
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.