Monument Assurance Belgium (MAB) has completed the acquisition of the entire insurance portfolio and personnel of pension and life insurance firm Intergrale.
According to Reinsurance News, MAB – a member of the Monument Re Group – will continue to expand the activities of the Group, especially in Belgium, following the purchase.
MAB CEO Koen Depaemelaere said, “We are delighted that we have been able to meet all the conditions to bring this acquisition to a successful conclusion. With this portfolio transfer, we created a solution with the necessary guarantees for policyholders and protections and continuity of staff.”
“This transaction is fully in line with our growth strategy in Belgium and strengthens our position as a leading life insurance consolidator.”
Monument Re Manfred Maske added, “This transfer fits perfectly into the broader consolidation strategy of Monument Re so we are very pleased to welcome our new colleagues into the broader Monument Re Group.”
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