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Monument Re completes acquisition of runoff portfolio from Belgium-based Ethias

Monument Re Ltd. has completed the acquisition of a runoff portfolio of flexible premium retail life insurance contracts from Ethias SA, known as First A portfolio.

The acquisition was done by Monument Re through Irish-domiciled insurance subsidiary Laguna Life D.A.C.

The First A portfolio has been transferred into Laguna Life D.A.C. as of Sept. 28. The terms and conditions remained the same, except for the loss of Belgian state guarantee.

Laguna Life said that a bonus, in addition to the value of their First account, will be given to policyholders who will surrender their First account before Dec. 7.