The Securities Services arm of BNP Paribas, a leading global custodian with over EUR 12,000 billion of assets under management, has been appointed by Monuta Verzekeringen NV (Monuta) to provide global custodian services for Monuta’s total invested capital of EUR 1.9 billion (as at 31 December 2023). In addition, BNP Paribas will provide financial and investment administration and regulatory reporting (including Solvency II) for Monuta.
Monuta specialises in arranging and insuring funerals. Established in 1923, the company is one of the leading players in the funeral sector in the Netherlands, with 1.4 million policyholders. The services provided by BNP Paribas, which Monuta will be utilising, are targeted towards the Dutch institutional investor. This involves tapping into the expertise of BNP Paribas’ operational and relationship management teams in Amsterdam.
“For over 100 years, the same mission has driven us at Monuta: we will do all we can to make every farewell feel good. This includes taking care of our customers from a financial and sustainability perspective, not only now, but also in the future. That is why we continuously renew and strengthen our approach. We are very pleased to have found BNP Paribas as a suitable partner in custody services and investment and sustainability reporting. We have successfully completed the migration and look forward to a fruitful collaboration.”Ilse van den Bosch, CFRO of Monuta
“We are delighted that Monuta has selected us as their new asset services provider in the Dutch market. Winning this mandate once again demonstrates our strong position in the Netherlands and our ability to offer front-to-back solutions tailored to the needs of our insurance clients.”Mark Schilstra, Head Securities Services Netherlands and Scandinavia of BNP Paribas