shutterstock_207866794_ferbies
shutterstock/Ferbies
21 February 2022Insurance

French mutual Covéa sells Luxembourg life subsidiary to Monument Re

Bermuda-based reinsurer  Monument Re has acquired the Luxembourg-based life insurance company from French mutual insurer  Covéa.

Monument Re’s Luxembourg subsidiary Monument Assurance Luxembourg S.A. has completed the acquisition of AME Life Lux S.A. (AMELL) following receipt of regulatory approval from the Commissariat aux Assurances.

Financial terms of the transaction were not disclosed.

AMELL is a life insurance company with market presence in Luxembourg and Belgium.

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
5 May 2022   It hopes the move will enable entry into new markets and unlock more opportunities.
Insurance
19 April 2022   The company has concluded an annuity reinsurance transaction with Countrywide.
Insurance
22 December 2021   The deal follows earlier acquisitions of six other Belgian portfolios as part of its consolidation strategy.