OneLife To Be Acquired By Groupe APICIL

The OneLife Company S.A. announced that an agreement has been reached between funds advised by J.C. Flowers & Co. LLC (“J.C. Flowers”) and the APICIL Group (“APICIL”) to sell 100 percent of OneLife to APICIL. Terms of the agreement were not disclosed. The transaction is subject to regulatory approval.

OneLife is a leading Luxembourg life insurance company with more than 5.2 billion euros in assets under management.

APICIL is the fourth-largest social protection group in France, engaged in health and life insurance, pensions, savings products, and related financial services. APICIL seeks to further strengthen and develop its wealth management activities and in this regard, OneLife represents an attractive opportunity through its expertise in cross-border wealth planning solutions using life insurance. The activities of OneLife are entirely complementary to those of APICIL’s Luxembourg subsidiary, APICIL Life Luxembourg.

Thierry Porté, Managing Director of J.C. Flowers and Executive Chairman of OneLife commented: “We have worked over many years to develop the capabilities of OneLife in its core activity of cross-border wealth management solutions and to establish and strengthen the OneLife brand. We see the transaction as a confirmation of OneLife’s franchise and the quality of its people and believe that APICIL will enable OneLife to add greater value to clients and partners in the years to come.”

Antonio Corpas, Chief Executive Officer of OneLife, stated: “APICIL’s financial strength, leadership position in France, and commitment to Luxembourg are all positive factors in the continuing cooperation of our business as a key provider of global wealth solutions for an international clientele.”

Philippe Barret, Chief Executive Officer of APICIL, commented: “The expertise of the teams and the quality of the capabilities of OneLife are a perfect complement to the value chain which we already possess in Luxembourg with APICIL Life Luxembourg and will enable us to further accelerate our growth in the market.”