On Thursday 3 October 2024, OneLife, a Luxembourg company specialising in life assurance, announced the opening of a branch office in Auderghem, Belgium (south east of Brussels), aimed at enhancing its presence in this market by offering Belgian policies.
Named OneLife Belgian Branch, it will offer an expanded range combining the benefits of Luxembourg life assurance in terms of investment flexibility, asset protection and the proximity of the Belgian financial environment, the company noted.
BeLife is the first policy to be offered by OneLife Belgian Branch under Freedom of Establishment. Accessible from €10,000, BeLife is a Branch 23 life assurance policy governed under Belgian law designed for private clients residing in Belgium who are seeking to invest over the medium to long term, while retaining the ability to access their saving at any time.
The advantages of this new policy, as reported by OneLife, include: a "wide range" of external funds offering the ability to exercise automatic switching options "at all times" in order to "optimise" investments; product flexibility with numerous structuring possibilities; secure and intuitive online tools for "straightforward" policy administration 24/7; a "unique" framework for protecting the policyholder's assets; transactions within a domestic banking environment.
Other policies will subsequently supplement the local offering in order to best meet the needs of partners and their clients, added OneLife.
The company described the opening of the Belgium branch as an "important milestone" in its development in the Belgian market and the solutions offered to its partners and clients.
"Belgium has always occupied a special place for OneLife. Over the years we have established strong and sustainable partnerships with insurance brokers by offering innovative, expert and customised solutions. Through the branch office we are now striving to consolidate our place as a major life assurance player in Belgium by providing ever more effective support for our partners' and clients' wealth management projects," stated Bruno Valersteinas, CEO of OneLife.
With premiums totalling over €1 billion and a net result of €13.6 million, OneLife "posted a resilient 2023 in the context of a market suffering an overall downturn".
