Monument Re Limited has completed its acquisition of Nordben Life and Pension Insurance Co. Limited from BenCo Insurance Holding B.V., following receipt of regulatory approval from the Guernsey Financial Services Commission (“GFSC”).
Manfred Maske, the chief executive officer of Monument Re Group, said, “The completion of this transaction positions the Monument Group well in executing its strategy in the Crown Dependencies.”
Nordben, a Guernsey-based company, is licensed to carry out long-term and general insurance business, including domestic business, and is subject to regulation by the GFSC. Nordben has been closed to all new business since early 2016.
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, the Netherlands, and now Guernsey.
Learn more: www.monumentregroup.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].