reinsured

growth in the Belgian market. In support of Monument Re Group’s intention to efficiently manage capital and liquidity, the Company makes use of intra-group reinsurance (“IGR”) to cede risks that can be reinsured to Monument Re, whilst retaining..., typically with guarantees. Monument Re is a Class E reinsurer and holding company of other European insurance entities. It is subject to Group Supervision by the BMA through Solvency II Equivalence attained on a permanent basis from the European Commission

risks that can be reinsured to Monument Re, whilst retaining a proportion of the risk. This helps to drive risk diversification and capital and liquidity synergies at the group level. The ownership structure of MAB and MIES is set out in the chart below... liabilities, typically with guarantees. Monument Re is a Class E reinsurer and holding company of other European insurance entities. It is subject to Supervision by the BMA through Solvency II Equivalence attained on a permanent basis from the European

-group reinsurance (“IGR”) to cede risks that can be reinsured to Monument Re, whilst retaining a proportion of the risk. This helps to drive risk diversification and capital and liquidity synergies at the group level. The IGR-Treaty was updated during... Re is a Class E reinsurer and holding company of other European insurance entities. It is subject to Group Supervision by the BMA through Solvency II Equivalence attained on a permanent basis from the European Commission. Monument Re has an

manage capital and liquidity, the Company makes use of intra-group reinsurance (“IGR”) to cede risks that can be reinsured to Monument Re, whilst retaining a proportion of the risk. This helps to drive risk diversification and capital and liquidity

support of Monument Re Group’s intention to efficiently manage capital and liquidity, the Company makes use of intra-group reinsurance (“IGR”) to cede risks that can be reinsured to Monument Re, whilst retaining a proportion of the risk. This helps to