Sixth Street announced that investment vehicles managed or advised by the firm have entered into a definitive agreement to acquire a majority stake in Monument Re.
Financial terms of the transaction were not disclosed.
Monument Re is a pan-European insurance consolidator focused on acquiring and managing in-force life insurance portfolios.
Hannover Re will continue as a key shareholder and remains committed to Monument Re and Sixth Street’s strategy for the business.
The transaction is expected to provide Monument Re with fresh capital and resources to accelerate its strategic initiatives and further strengthen its market position.
After closing, Monument Re will continue to operate as a standalone company and to service its policyholders.
Monument Re serves as a strategic partner in the European insurance market by offering execution-focused capabilities for acquiring and managing in-force life insurance portfolios.
The company also provides risk-transfer and reinsurance solutions across multiple jurisdictions.
Sixth Street said the investment reflects its conviction in the European market and its strategy of partnering with strategic institutions.
Sixth Street Insurance is a strategic partner to insurers, advising on more than $125 billion of insurance company assets and making direct investments through a global platform.
The business combines long-term capital with asset-liability management expertise to deliver balance-sheet solutions for life and property-and-casualty insurers.
Sixth Street is a global investment firm with more than $130 billion in assets under management and committed capital. Hannover Re is one of the world’s leading reinsurers, operating across property and casualty and life and health reinsurance. And Monument Re is a life insurance and reinsurance company focused on acquiring and managing in-force life insurance portfolios across Europe.
The transaction is expected to close by the end of 2026, subject to regulatory approvals and other customary closing conditions.
Support: Morgan Stanley served as financial advisor, Oliver Wyman served as actuarial advisor, KPMG served as financial and tax advisor, and Cleary Gottlieb Steen & Hamilton and Debevoise & Plimpton served as legal advisors to Sixth Street.
Fenchurch Advisory Partners served as financial advisor to Monument Re, while Hogan Lovells, Conyers Dill & Pearman Bermuda, and Herbert Smith Freehills Kramer served as legal advisors.
KEY QUOTES:
“We are excited to partner with Monument and Hannover Re as we expand our global insurance footprint. This investment reflects our deep conviction in the European market and our approach of partnering with strategics as a model for success. We look forward to fulfilling Monument’s potential as a leading consolidator in its core markets, while maintaining a focus on long-term security for policyholders.”
Rohan Singhal, Partner and Head of Insurance at Sixth Street
“We welcome Sixth Street’s investment in Monument and view it as an important step for the Company’s future growth and development. Hannover Re values the strong partnership with Monument and will continue to support the Company as a reinsurance partner and shareholder.”
Brona Magee, Executive Board Member for Life & Health at Hannover Re
“Monument is excited about the support our shareholders are showing at this pivotal moment for our Company. The combined market presence and deep expertise of Sixth Street and Hannover Re put us in a fantastic position as we continue on our growth path.”
Carlo Elsinghorst, Group CEO of Monument Re
