Monument Re, a Bermuda-based re/insurer, has reached an agreement to acquire Robein Leven and its subsidiaries from Amerborgh Financial Services.
Domiciled in the Netherlands, Robein Leven is a closed life insurer with traditional and linked products.
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The financial terms of the transaction, which is subject to regulatory approval, have not been disclosed.
Monument Re Group CEO Manfred Maske said: “It has been a pleasure to work with Amerborgh and to be able to announce this transaction. The acquisition of Robein Leven establishes our long-term presence in the Netherlands as part of our Benelux strategy.”
Robein Leven managing director Dus Fabius and director Matthijs Vernooij said: “We are delighted to become part of an innovative and ambitious organisation and are excited to contribute to Monument Re’s growth strategy in the Benelux.”
Monument Re has been on acquisition spree this year. In January, it acquired full ownership of Talanx Group’s life insurance subsidiary Aspecta Assurance International Luxembourg.
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By GlobalDataMonument Re completed the acquisition of ABN AMRO Life Capital Belgium (AALCB) and acquired a run-off portfolio of flexible premium retail life insurance contracts, First A Portfolio, from Belgian insurer Ethias in March and April, respectively.
Last month, Monument Re purchased a run-off portfolio of linked and traditional business from Metlife Europe.
