Octium Group Buys Credit Suisse Life & Pensions AG
Posted on 07/16/2021
Revealed on July 13, 2021, cross-border insurance group Octium Group (Octium Holding S.A.) is buying Credit Suisse Life & Pensions AG for an undisclosed sum. The deal is subject to regulatory approval and will see Octium strengthen its European footprint. Octium Group is headquartered in Luxembourg and has operations in Ireland, Liechtenstein, and Switzerland. Octium has approximately 4.5 billion euros in assets under management.
The Credit Suisse subsidiary focuses primarily on German and Italian insurance clients with offices in Vaduz and Milan.
Jean-Francois Willems, group chairman of Octium, said in a press release: “The acquisition of Credit Suisse Life & Pensions represents a further step towards the implementation of our growth strategy, positioning Octium as a leading provider in the life insurance market across the entire European Economic Area. It is highly complementary to both our existing business, from an operational, product and distribution perspective, and future business development plan.”
Octium bought and integrated UBS International Life DAC in 2017.