Foyer S.A., a Luxembourg-based privately owned financial group, has signed an agreement to acquire 100% of the shares of the company GB Life Luxembourg S.A. ("GB Life").
With this purchase, subject to approval by the “Commissariat aux Assurances”, Foyer S.A. will be investing in a high-potential sector and hopes to strengthen its position on the life insurance market marketed under the freedom to provide services from Luxembourg.
By joining Foyer S.A., GB Life will benefit from being part of a renowned Luxembourgish financial group to develop its business model, which is based on an innovative and digitised concept aimed at the affluent customer segment. For its part, Foyer S.A. has stated its confidence that it is investing in a company with significant growth potential, while strengthening its position in the international life insurance sector. This acquisition complements its existing offer proposed by its company Wealins, which targets high-net-worth individuals.
Marc Lauer, Chief Executive Officer of Foyer S.A., stated: "The acquisition of GB Life represents an opportunity to expand our activities in life insurance as a wealth management instrument. It is part of our strategic development vision and allows us to reinforce our competitive position. In addition, through this project, [...] Foyer Group actively contributes to the development of Luxembourg as a leading centre for cross-border life insurance”.
