OneLife, a Luxembourg life assurance specialist for more than 30 years, has published its 2023 annual financial statements.

With premium proceeds of €1.03 billion, OneLife has demonstrated resilience in a generally downward market subject to ever-increasing regulatory constraints.

This resilience confirms the robustness of the OneLife model characterised by diversification in 8 European markets, with a position of confirmed leadership in Belgium and a strong presence in France – the domestic market of the Groupe APICIL, of which OneLife has been a member since 2019.

As a result of this dynamism, assets under management exceeded the €9 billion mark, reaching €9.5 billion by the end of 2023. Combined with rigorous cost control, the revenue generated accordingly has enabled us to maintain a high level of profitability, with net income of €13.6 million

Lastly, the company confirms its financial stability with a Solvency II ratio of 147% at year-end.

 “2023 was a pivotal year for OneLife, characterised by increasing regulatory pressure and economic factors, notably high inflation and interest rates, that have fuelled competition from non-insurance products”, states Bruno Valersteinas, CEO of OneLife. “In this more challenging context, the resilience of our inflows once again demonstrates the strength of the bond that unites us with our partners, based on approachability, proximity and the constant search for investment and wealth planning solutions adapted to the needs of their clients.”




In 2023, OneLife’s teams were heavily involved in major projects designed to enhance its digital services, which lay at the heart of the company’s value proposition. This includes OneLife joining the SWIFT community, the deployment of a new tool enabling partners to meet their regulatory obligations by facilitating the updating of KYC data and by generally improving data quality, in addition to a simplified electronic signature tool designed to streamline clients’ digital experience.

Regulation has also been a major issue, in a context of stricter requirements imposed by the regulator. In order to meet its professional obligations, OneLife has adapted its AML-CFT system by strengthening its operational teams and adapting its management processes.

Finally, proud of its CSR certification, OneLife has assigned a prominent role to equal opportunities, employee well-being and the fight against climate change. With a well-established culture of inclusion, the company has offered its employees greater flexibility with new work organisation models. In order to contribute to environmental protection, an Energy Efficiency Committee has been set up, resulting in significantly reduced energy consumption in 2023.

2024 – Fresh impetus

2024 marks a new chapter in the development of the Luxembourg company, with a roadmap based on three key areas: (i) offering an optimal experience to its partners and clients through expert solutions and a fluid personalised service; (ii) meeting regulatory requirements by adapting management processes while minimising the impact on partners; and (iii) constantly improving the user digital journey while preserving the place and quality of human relations at the very heart of its business.

In this respect, the new full digital application functionality, developed on the basis of the tried-and-tested Groupe APICIL system, will be launched in the coming weeks with Belgian partners, before deployment to French partners from the summer. The new functionalities will bring efficiency, speed and fluidity to the policy application process, combined with an optimised user experience.

Another key milestone will be the opening of a branch in Belgium by the summer of 2024. As the market leader in Belgium in the distribution of Luxembourg life assurance policies under the Freedom to Provide Services (FPS), OneLife is aiming to strengthen its presence in the country by offering Belgian policies. With this expanded and complementary offering, OneLife wants to reaffirm its commitment to being ever closer to its markets, its clients and their needs, as it is already doing in France with a presence in LPS and via a branch.


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