Bermudian-based Monument Re Ltd has announced that its subsidiary Monument Assurance Belgium NV has completed the acquisition of a branch 21 closed book classical group life insurance portfolio from Contassur – Contibel Assurances Vie – Contibel Levensverzekeringen SA/NV.

Completion followed the receipt of regulatory approval from the National Bank of Belgium.

Koen Depaemelaere, CEO of Monument Assurance Belgium, and Carlo Elsinghorst, the Bermudian-based group CEO of Monument Re Ltd, said: “We are delighted to share that we have completed the acquisition of this portfolio from Contassur, marking another positive step in our consolidation strategy for Belgium.”