Luc Rasschaert, CEO of WEALINS;
On Wednesday 30 December 2020, Foyer S.A. announced the merger of its two entities: WEALINS S.A and GB Life Luxembourg S.A. (GB Life), both specialised in the development of innovative life insurance solutions across Europe.
The wealth insurance activities of Foyer Group are now gathered under a single name: WEALINS.
With the integration of GB Life, WEALINS is pursuing its development and strengthens further its position as a major life insurance player offering unit-linked products marketed under the Freedom to Provide Services (FPS) regime from Luxembourg. At the end of 2019, the company's assets under administration reached €12.5 billion with a turnover of €1 billion (combined WEALINS and GB Life figures).
As a result of this merger, Foyer Group is stating its intention for the international life insurance market.
Since June 2020, Luc Rasschaert has been the CEO of WEALINS (created in 2017 by the Foyer Group), and is to remain in that role. GB Life Luxembourg S.A. was acquired by Foyer Group in 2019. As of today, GB Life will cease to exist and the wealth insurance activities of WEALINS and GB Life will be gathered under a single name: WEALINS.
Marc Lauer, Chief Executive Officer of Foyer S.A. (shareholder of WEALINS), stated "Through its subsidiary WEALINS, Foyer Group is proud to contribute to Luxembourg's reputation as a major distribution centre for cross-border life insurance solutions. With an increasingly mobile wealthy clientele, WEALINS' offer, which combines flexibility, estate planning and security, perfectly meets the needs of this clientele."
Innovation & Excellence
With the integration of GB Life, WEALINS is also expanding its range of products in particular with ePlatinum, a 100% digital solution that is simple, fast, easy to use and offers an "all-in" pricing, making it possible to serve a more diversified customer base. ePlatinum is as a first step distributed on the
Belgian market.
Luc Rasschaert, CEO of WEALINS, stated "Operational excellence is our key success factor. It is by relying on the expertise, know-how and collaboration of our teams who are mobilised on a daily basis to satisfy our partners and their customers that we are also able to pursue our growth."
