Athora has entered into a definitive agreement to sell Athora Germany, comprising its German life and pensions business and related holding and regulated entities to Frankfurter Leben.
Athora Germany is a closed book of traditional life, unit-linked and pension policies, collectively totalling €3.5bn of AuMA. The business was originally acquired by Athene in 2014 and transferred to Athora upon deconsolidation from Athene in 2018.
Frankfurter Leben is a German insurance group focused on acquiring and managing life and pension insurance portfolios.
“As a specialist consolidator with a long track record in the German market, Frankfurter Leben is well-placed to continue the prudent and effective management of the Athora Germany business in run-off. I would like to thank the Board, management and employees of Athora Germany for their contributions to the Group over the last eight years. As Athora Group continues to focus on building scale and organic growth in each country where we operate, we believe this transition will provide the best long-term path for all parties,” said Todd Solash, Group Chief Executive Officer of Athora.
“The business of portfolio insurance thrives on efficiency – in the interests of both customers and investors. With the acquisition of Athora Germany, we are underlining our ambition to have the best approach to achieving this. DWS Group – one of the leading asset managers in the insurance sector – will support the transaction as a long-term financing partner and work strategically with Frankfurter Leben. This opens up further opportunities for growth,” added Dr. Christian Wrede, CEO of Frankfurter Leben Group.
The proposed transaction is expected to complete in mid-2027, subject to regulatory approvals.
