Allianz offloads Eur1.4bn life retail portfolio to Monument Re

Allianz Benelux is to transfer a closed book of classical life retail insurance – a combined life insurance and savings portfolio – worth Eur1.4bn ($1.6bn) and a book of mortgage loans to Bermudian (re)insurer Monument Re as part of the German insurer’s strategy to shift its life business to ‘capital light’ products.