Monument Re announced today that it has completed the acquisition of Nordben Life and Pension Insurance from BenCo Insurance Holding, following receipt of regulatory approval from the Guernsey Financial Services Commission (GFSC).
Manfred Maske, CEO 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 Guernsey Financial Services Commission. 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 completion of this transaction positions the Monument Group well in executing its strategy in the Crown Dependencies."
The group of companies has established presence in Bermuda, Ireland, Belgium, Luxembourg, the Netherlands and now Guernsey.