Allyum advises P&V on the sale of Euresa Life
Allyum, the Belgian corporate finance advisor, announces the closing of the sale of Euresa Life, a P&V insurance subsidiary, to a European Insurance Company in order to ensure the development of the Company.
Press Release February 12, 2019 - Brussels
The cooperative insurance group P&V has signed an agreement for the sale of 100% of its life insurance subsidiary on the Luxembourg market, Euresa-life S.A. to a European Insurance Company.
Euresa-life is active in the life insurance segment, historically offering a wide range of wealth structuring solutions through Luxembourg's "unit of account" insurance products.
The sale of Euresa-life is part of the program initiated by the P&V group for several years, the aim of which is to refocus its activity on the Belgian local market and its core businesses, namely insurance life and non-life, savings and supplementary pensions.
“Allyum has played a key role in the success of this transaction. Its goal-oriented approach has been very appreciated during the whole process.”
-- Christophe Linet, Director Corporate Finance P&V Group
For more information we invite you to open this link : https://bit.ly/2TIZreG
More about P&V
The P&V Group is an active cooperative insurance group in Belgium.
It offers insurance solutions to individuals, corporates and institutions through various distribution channels and brands : P&V, Vivium, PNP, Actel and Arces.
In 2017, the P&V Group posted a consolidated profit (IFRS) of EUR 172m, for a gross inflow of EUR 1.7bn.
Euresa-life SA is a Luxembourg life insurance company providing unit-linked products to customers located in Italy, France, Belgium and Luxembourg for the most part. As of FY 2017, total Assets under Management reached EUR 361m.
The Company offers a comprehensive wealth-structuring solution based on a multi-management concept. With its “multisupport” contract, the Company offers access to a very wide range of external funds (currently still more than 370 external funds managed by multiple third party asset managers), internal funds as well as funds with a guaranteed return (“Euresa Patrimoine” and “Alticash” products). Additionally, the Company also offers “dedicated” contracts, allowing increased flexibility in terms of underlying assets.