Press releases | Private Equity & Financial Sponsors, Corporate and M&A, Equity Capital Markets | 08 Jul 2019

Monument Re acquires Nordben

Overview

Travers Smith LLP has advised Monument Re, the Bermuda-based reinsurer with a presence in Ireland, Belgium, Luxembourg and the Netherlands, on its acquisition of Nordben Life and Pension Insurance Co. Limited ("Nordben") from BenCo Insurance Holding B.V.

Nordben is a Guernsey-based company licensed to carry out long-term and general insurance business, which has been closed to all new business since early 2016. The acquisition was subject to receipt of regulatory approval from the Bermuda Monetary Authority and the Guernsey Financial Services Commission. The Travers Smith team was led by Private Equity and Financial Sponsors Partner Edmund Reed and Corporate M&A and ECM Partner Richard Spedding, assisted by Private Equity and Financial Sponsors Associate James Thomson.