Acquisition of OneLife complete

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The OneLife Company S.A. (“OneLife”) is delighted to confirm that it is joining the APICIL Group (“APICIL”).  This follows the announcement on 1 August 2018 of the sale of OneLife to APICIL by funds advised by J.C. Flowers & Co. LLC (“J.C. Flowers”).  Regulatory approval has been granted and the transaction is now complete

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OneLife is a leading Luxembourg life insurance company with more than Euros 5.2 billion in assets under management.

APICIL is the fourth largest social protection group in France, engaged in health and life insurance, pensions, savings products and related financial services.  APICIL’s investment is a clear indication of its commitment to Luxembourg and to further strengthening OneLife’s position as a provider of global wealth solutions using unit-linked life assurance. 

Philippe Barret, Chief Executive Officer of APICIL, commented: “We are extremely pleased to now count the expertise of OneLife as part of our group alongside APICIL Life Luxembourg and we look forward to further developing the OneLife proposition to accelerate the company’s growth and add increased value to clients and partners across all markets”.

Thierry Porté, Managing Director of J.C. Flowers and former Executive Chairman of OneLife, added: “APICIL is a leading player in the French insurance market governed by strong values and a long history of social protection.  OneLife will benefit very positively from the synergies they will bring”.

Antonio Corpas, Chief Executive Officer of OneLife, concluded: “OneLife’s is on a steady growth trajectory.  We delivered strong results in 2018, gaining new market share and seeing increased commitment from institutional partners for our cross-border wealth solutions.  This growth combined with APICIL’s financial strength, expertise and commitment to Luxembourg are all positive factors as we join the Group”.

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