On Wednesday 23 April 2025, Luxembourg life assurance company OneLife Company SA published its financial results for 2024.
OneLife reported an upswing in 2024, with premium volumes increasing by 25% to €1.3 billion. The company stated that inflows increased by more than 50% in all markets where the company operates.
OneLife also reported that its assets under management reached €10.5 billion. Combined with optimised cost control, the income generated exceeded €16 million, an increase of 21% when compared with 2023. The company highlighted its financial strength, with its solvency ratio reaching 139%.
“2024 was an excellent year for OneLife. In a context of growing interest in Luxembourg life assurance, the development strategy pursued since 2023 has borne fruit, enabling us to pass the symbolic barrier of €10 billion in assets under management”, said Bruno Valersteinas, CEO of OneLife. “Over and above our solid commercial and financial results, we are proud to have continued to enrich our offering by developing new insurance solutions and new digital pathways for our clients.”
OneLife also reported the successful implementation of two strategic projects in 2024: an overhaul of its digital services and the creation of a branch office in Belgium. It developed a new 100% digital application process, based on a proven system used by Groupe APICIL in France. Launched in France and Belgium in the spring of 2024, this new functionality is described as bringing efficiency, speed and fluidity to the life assurance policy application process, with an optimised user experience and interconnectivity with the company’s other digital tools.
OneLife also opened a branch office in Belgium last year. With the launch of its first BeLife policy in October 2024, the company now offers a full range of Luxembourg life assurance products. Belgium is now the second European market, alongside France, where OneLife is offering its services in line with the two European passport arrangements, namely freedom to provide services and freedom of establishment.
In 2024, OneLife completed its 2025-2028 strategic plan. The plan is based on three strategic pillars: client satisfaction, service efficiency and socially responsible commitment. According to the company, the plan places the client at the heart of OneLife’s strategy, stating that client satisfaction is its objective and raison d’être. Accordingly, a “Client First” roadmap has been defined to support the operational implementation of OneLife’s objectives: to enhance client focus and understanding, to improve the client experience, to monitor satisfaction and to reinforce the client culture in all the company’s departments.
The second pillar of the strategic plan concerns the efficiency of the company, which OneLife stated it will be striving to optimise in order to concentrate resources on service quality. The company will therefore be pursuing the digitalisation strategy introduced in 2023, with particular attention being paid to exploiting innovative technologies, notably artificial intelligence, in order to offer new solutions.
Furthermore, OneLife will continue to practise corporate social responsibility: by contributing to the development of solidarity and a greener economy through its investments and units; by supporting organisations helping the most vulnerable and by promoting well-being in the workplace. OneLife added that it had received a “Great Place to Work” certification in early 2025 and would continue to develop this approach.
