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Frankfurter Leben eyes Athora's German insurance assets
6 Jul
Summary
- Frankfurter Leben is preparing an offer for Athora Holding's German business.
- IKAV, an asset manager, is also showing interest in the German unit.
- Athora's German division manages €3.5bn in assets for 140,000 customers.
Frankfurter Leben is reportedly preparing to submit an offer for the German business of Athora Holding. Sources indicate that IKAV, an asset management firm, is also a potential suitor for the German operations. Both parties are expected to submit their final bids in the near future, though the process may not culminate in a sale.
Athora, which is backed by Apollo Global Management, has been evaluating strategic options for its German division, including a potential sale, due to expansion challenges. The German unit manages a closed-book portfolio of traditional life insurance, unit-linked products, and pension policies for around 140,000 customers. It employs over 100 staff and oversees €3.5 billion in assets under management and administration.
This development occurs as Athora plans to relocate its headquarters from Bermuda to the UK by late 2027. This strategic move follows Athora's acquisition of Pension Insurance in Britain, which significantly boosted its assets under management and administration to €139 billion.
