Fidelidade acquires a 70% stake in the prosperity company
Fidelidade , a Portuguese insurance group, is taking over a majority stake in the the prosperity company .
Founded in 2016, the Liechtenstein-based startup develops long-term pension products such as life insurance. It is mainly active in Switzerland and Germany but is also present in Austria, Italy, and Liechtenstein. By the end of 2020, the company had almost 67,000 policies, resulting in gross annual premiums of EUR 145 million. They comprise a total of more than four billion euros in committed premiums over the entire term of the existing policies.
“Fidelidade wants to expand its offer for customers and families who want to invest their savings over the long term. The prosperity company is an innovative company, and more than 98 percent of its customers live in Switzerland and Germany – two of the European markets with the highest level of development and maturity in this area. With this takeover, we want to strengthen our competencies and expand our business by improving the range of savings insurance and offering our distribution partners more flexible solutions. ” – Rogério Campos Henriques, CEO of Fidelidade.
“We are very pleased that we are a forward-looking, well-known with Fidelidade and technology have gained strong strategic partner. Together with Fidelidade, we can consistently develop and implement our digitization and growth strategy and offer our stakeholders even better and more extensive services.” – Reto Näscher, CEO of the prosperity company.