HAMILTON, Bermuda–(BUSINESS WIRE)–Monument Re announced today that, subject to regulatory approval, it has
acquired Nordben Life and Pension Insurance Co Limited (“Nordben”) from
BenCo Insurance Holding B.V., which is owned 89.96% by Storebrand
Manfred Maske, CEO of Monument Re Group, said:
“We are pleased to announce the acquisition of Nordben which establishes
our presence in Guernsey. We look forward to welcoming the Nordben team
to the Monument Group as we look to continue growing the business
regionally. Equally important is to maintain the high level of service
to Nordben customers going forward.”
Geir Holmgren, CEO of Storebrand Livsforsikring AS said:
“I am very pleased with this solution regarding Nordben. Storebrand, as
the majority owner of BenCo, see the acquisition of Nordben as a very
positive step for the company going forward. The customers and employees
will be taken good care of by Monument Re, which has been an important
consideration for us during the process ”
Nordben represents Monument Re’s eighth acquisition in Europe.
Completion of the acquisition will follow satisfaction of customary
closing conditions, including receipt of regulatory approvals.
Nordben, a Guernsey-based company, is licensed to carry out long-term
and general insurance business, including domestic business, subject to
regulation by the Guernsey Financial Services Commission. Nordben has
been closed to all new business since early 2016.
About Monument Re
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.
The group of companies has established presence in Bermuda, Ireland,
Belgium, Luxembourg and the Netherlands (subject to regulatory approval).
To learn more, please visit www.monumentregroup.com
Monument Re Limited
Manfred Maske, +1-441-400-3900
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