Monument Re Acquires AME Life Lux S.A. From Covéa

HAMILTON, Bermuda--(BUSINESS WIRE)--Monument Re announced today that its Luxembourg subsidiary, Monument Assurance Luxembourg S.A., has completed the acquisition of AME Life Lux S.A. (“AMELL”) from French Mutual Insurance Group, Covéa, following receipt of regulatory approval from the Commissariat aux Assurances. Financial terms of the transaction were not disclosed.

AMELL is a well-established Luxembourg-based life insurance company with a market presence in Luxembourg and Belgium. The transaction will have no impact on AMELL’s policyholders.

Monument Re Limited is a life Reinsurance and Insurance Holding Company with a presence in Bermuda, Ireland, Belgium, Luxembourg, the Netherlands, the Isle of Man and Guernsey, with branches in Spain, Italy and Germany. Monument Re operates as a reinsurer and acquirer of European asset-intensive portfolios. Through this strategy, Monument Re assumes asset-based risks within its risk appetite and efficiently operates these businesses or portfolios.

Monument Re is subject to Group Supervision by the Bermuda Monetary Authority.

Monument Assurance Luxembourg S.A. is a fully licensed Luxembourg life insurance company regulated by the Commissariat aux Assurances, with branches in Spain, Italy, and Germany. Its strategy is to acquire, by portfolio transfer or outright purchase, legacy guaranteed and linked portfolios in Luxembourg, Italy and Spain.

To learn more, please visit our website at www.monumentregroup.com.