OneLife has published its annual financial statements confirming another record year in terms of both premiums and financial results, despite the market turbulence caused by the war in Ukraine, by the energy crisis and by rising inflation.

The highlights of 2022 for OneLife are as follows:

  • Inflows increased by over 30% compared to the prior year, standing at 1.4 billion euros
  • These record inflows for OneLife confirm its dominant position in the Belgian market and its growing presence in the French market
  • The premiums collected in Spain and Denmark make OneLife the leading company in these markets among all operators based in Luxembourg
  • The new solutions offered in the Swedish and Portuguese markets have stimulated demand, which is set to grow once again in 2023
  • The business targeting British expatriates has made good progress among this mobile clientele seeking dedicated solutions
  • Given the dynamism of inflows and despite the market environment, the level of assets under management has held up well
  • The net result of all the initiatives implemented by the company and its employees also generated record profitability, with net earnings of 16.9 million euros, an increase of nearly 20% versus 2021
  • Lastly, the company confirms its financial stability with a Solvency II ratio of 144% at year-end.

“These results are the fruit of the H24 strategic plan deployed over the past 2 years, designed to stimulate and diversify our distribution activities in Europe by concentrating our efforts on efficiency, client support and innovation”, declares Elio Fratini, CEO of OneLife. “I would like to take the opportunity to thank all our employees who are committed to offer our partners and their clients an experience firmly rooted in quality, simplicity and reliability. The mechanisms for interacting with our partners confirm the effectiveness of the strategic direction adopted by our company, with levels of satisfaction and confidence that we will maintain and strive to enhance on a day-to-day basis.”

In 2022, OneLife continued to expand its range of wealth and financial solutions, notably in non-traditional assets. Digital has been a pivotal factor with the deployment of SWIFT and the launch of major projects, such as the future fully-digitalised application process based on the tried-and-tested system of Groupe APICIL, already operational at the French branch office of OneLife. The year was also marked by regulatory issues. OneLife has therefore enhanced its KYC and periodic review systems in the context of anti-money laundering and counter-financing of terrorism. Tools have also been made available to our partners for collating the ESG preferences of their clients.

From the human angle, while Covid-19 already transformed working practices, OneLife received in 2022 Great Place to Work certification, recognising its efforts to establish an internal working environment based on trust with the objective of stimulating team spirit, empowerment and innovation – key factors for a company seeking resilience, durability and high performance.

Lastly, CSR is a major issue for OneLife. The company has therefore conducted exhaustive analysis and introduced working groups focussing on 2 major areas: employee wellbeing in the workplace and the fight against climate change via low-carbon transition and a responsible investment policy. It is against this background that OneLife was awarded the ESR label in 2022, recognising its efforts in the implementation of a CSR strategy accompanied by a concrete action plan for the years ahead.

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