Bermudian-domiciled Monument Re Group, the reinsurer and asset consolidator, has entered into a reinsurance agreement with Countrywide Assured plc, a subsidiary of Chesnara plc.

Manfred Maske, group CEO of Monument Re, said: “It has been a pleasure to work with Chesnara and Countrywide and conclude this annuity reinsurance with Countrywide.”

Chesnara is a life and pensions company listed on the London Stock Exchange.

It administers approximately 960,000 policies and operates as Countrywide Assured in the United Kingdom, as The Waard Group and Scildon in the Netherlands, and as Movestic in Sweden.