HAMILTON, Bermuda–(BUSINESS WIRE)–#annuities–Monument Re announced today that, subject to regulatory approval, it has entered into an agreement to sell Robein Leven N.V. and its subsidiary Robein Effectendienstverlening (collectively “Robein”) to Chesnara plc through its existing Netherlands-based platform, the Waard Group. Robein Leven is a closed life insurer domiciled in the Netherlands with traditional and linked savings products, mortgages and annuities.
Both Monument Re and Chesnara are committed to providing continuity of services during the period of transition and will take all steps necessary to prepare for a seamless transfer for policyholders and staff.
Change of control of the companies will follow satisfaction of customary closing conditions, including receipt of regulatory approvals.
Aperghis & Co acted as financial adviser to Monument Re with Simmons and Simmons providing legal counsel.
About Monument Re
Monument Re is a reinsurer and asset consolidator with a proven track record in the acquisition and operation of portfolios or direct insurers in Europe. Monument Re has a presence in Bermuda which has full Solvency II equivalence along with Switzerland. The Monument Re Group also operates through its subsidiaries in Belgium, the Netherlands, Ireland, Isle of Man, Guernsey, and Luxembourg, with branches in Spain, Italy and Germany.
Monument Re is subject to Group Supervision by the Bermuda Monetary Authority.