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Monument Assurance Belgium and Intégrale Reach Agreement for the Transfer of Intégrale’s Entire Portfolio and Staff to MAB
May 7, 2021 GMT
BRUSSELS (BUSINESS WIRE) May 7, 2021
Monument Assurance Belgium (“MAB”) and Intégrale have reached an agreement under which MAB will acquire the entire portfolio and all the staff of the insurance company Intégrale. This agreement follows a firm offer from MAB, which was considered by the provisional administrators appointed by the National Bank of Belgium (“NBB”) to be that which best meets the interests of Intégrale policyholders and staff. The transaction remains subject to the final approval of the NBB.
Monument Belgium, Intégrale Transaction
Monument Assurance Belgium [MAB] and Intégrale have “reached an agreement under which MAB will acquire the entire portfolio and all the staff of the insurance company Intégrale.”
A spokesperson said, “This agreement follows a firm offer from MAB, which was considered by the provisional administrators appointed by the National Bank of Belgium [NBB] to be that which best meets the interests of Intégrale policyholders and staff. The transaction remains subject to the final approval of the NBB.
“During the transition period, MAB and Intégrale will take all steps necessary to prepare for a seamless transfer for policyholders, brokers and staff. In the meantime, Intégrale’s staff will continue to service policyholders and brokers as usual.
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Monument Assurance Belgium ( MAB ) and Intégrale have reached an agreement under which MAB will acquire the entire portfolio and all the staff of the insurance company Intégrale. This agreement follows a firm offer from MAB, which was considered by the provisional administrators appointed by the National Bank of Belgium ( NBB ) to be that which best meets the interests of Intégrale policyholders and staff. The transaction remains subject to the final approval of the NBB.
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During the transition period, MAB and Intégrale will take all steps necessary to prepare for a seamless transfer for policyholders, brokers and staff. In the meantime, Intégrale s staff will continue to service policyholders and brokers as usual.
Allianz and Monument Re Complete Sale of Part of Allianz s Closed Life Book Portfolio in Belgium
Allianz continues serving the portfolio until 2022 to secure a seamless transfer for its clients broker partners.
Allianz remains committed to the Belgian market, focusing on open books in Life, Health, Employee Benefits and Property-Casualty, offering innovative and modern product lines like Branch 23.
The transaction has been approved by the Belgian regulator with effective date April 1st, 2021 and follows the announcement released in August 2020: Allianz Benelux and Monument Re announce closed book portfolio transaction.
With the completion of the transaction, both Allianz Benelux and MAB will now focus on ensuring a seamless transfer for clients and broker partners involved. Therefore, Allianz continues to service the portfolio throughout 2021 and into 2022.
Monument Re purchases life insurance book from Allianz royalgazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from royalgazette.com Daily Mail and Mail on Sunday newspapers.