Log In

Reset Password

Athora terminates closed life book transaction in Germany

Athora Holding Ltd has terminated an agreement to buy the former DBV-Winterthur Life closed life book portfolio (File photograph)

Bermudian-based Athora Holding Ltd today said that an agreement between its subsidiary, Athora Deutschland GmbH, and AXA Germany to purchase the former DBV-Winterthur Life closed life book portfolio, agreed in July 2022, had been terminated.

A statement said: “The termination agreement is consistent with the contractual terms of the sale agreement between the parties and follows significant changes in financial market conditions since signing.

“Athora remains committed to further growth in the German savings and retirement services market and has meaningful undrawn equity capital, totalling €2.2 billion ($2.4 billion), to further grow its footprint in Europe.

“Athora is backed by permanent capital funded by a high-quality, long-term oriented shareholder base and operates a patient long-term strategy that continues to deliver market leading returns to customers in Germany.”

You must be Registered or to post comment or to vote.

Published May 05, 2024 at 3:00 pm (Updated May 05, 2024 at 5:31 pm)

Athora terminates closed life book transaction in Germany

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon