Direct Investments

Netley Capital is a supportive minority shareholder in Monument Re, alongside Hannover Re, E-L Financial and others. Monument Re is a Bermuda based life reinsurer and insurance consolidator with a proven track record of successfully acquiring and operating portfolios or direct insurers in Europe, primarily those in run-off. Monument Re focuses on annuity, guaranteed savings or protection product lines. At all times, Monument Re is mindful of the impact of acquisitions or transfers on staff and policyholders and seeks to work with the sellers for smooth transitions.
 
Since commencing in 2017, Monument has executed a number of transactions in Ireland, the Benelux region and the Crown Dependencies as part of the first phase of the roll-out of its strategy. Using Ireland as their starting point, and as a base for a number of group services, Monument Re has completed a number of acquisitions of subsidiaries, portfolios and cross-border portfolio transfers with a range of counterparts, from smaller entities through to multinational insurance and/or banking groups. The Benelux region represents a key area of focus for the group, where they have completed a number of acquisitions again from a range of counterparties which collectively establish an excellent platform for further growth. They are actively developing growth opportunities in these areas and also in the Crown Dependencies where they have a presence in Isle of Man. Monument Re’s focus remains on achieving meaningful scale in these territories as part of their first phase of development while starting to initiate opportunities in our second phase.

These transactions have a common thread in that the portfolios are typically sub-scale with margins that are under pressure. With each successful acquisition, we work hard to ensure a smooth transition by ensuring continuity of service, integration of staff into the Monument group and by aligning the new portfolios to the Monument structure, framework and policies over all functions and areas. The result is that we currently operate successfully in more than 10 jurisdictions with approximately 1 million policyholders in the group.

The Company has a seasoned Board of Directors, chaired by Clive Rowe, currently a Board member of E-L Financial, and a strong management team led by Carlo Elsinghorst. Caspar Berendsen is one of the co-founders of Monument Re, starting the business de novo alongside the institutional shareholders, including Hannover Re and E-L Financial. Netley Capital remains as a supportive minority shareholder.