Insurance-linked securities funds managed by specialist ILS investment manager Leadenhall Capital Partners LLP have backed an agreement to acquire the shares of Austrian life insurance specialist company austrion Life.
austrion Life announced that an ongoing M&A process has now reached an important milestone as a Guernsey based company named SKH Funding Limited has now signed a purchase agreement to acquire the shares of austrion Life Group.
SKH Funding Limited is backed economically by an investor base that consists solely of investment mandates and funds managed by Leadenhall Capital Partners, the London headquartered specialist ILS investment firm.
austrion Life said that the agreements means that it “remains positioned on the market as an independent group of companies and continues on its chosen path with a focus on sustainable growth.”
Claudia Rainbacher, CEO of austrion Life Group commented, “With the new owner, we are gaining strong and experienced partners who fully support our strategic direction and enable us to successfully complete the transformation process that began two years ago.”
“We are impressed by the track record of the team under the management of the Management Board, Claudia Rainbacher and Andreas Buxbaum, as well as the potential of the austrion Life Group as a whole and its business model and have great confidence in it. The austrion Life Group has repeatedly demonstrated the robustness of its business model in connection with strong market development,” Andreas Tautscher, independent chairman of SKH Funding Limited stated.
The life insurer said that its underlying business structure and insurance offerings remain unchanged by the transaction, with this solely a change in ownership and financing source it seems.
Through its life ILS and alternative credit fund strategies Leadenhall Capital Partners has a history of supporting a range of financings for life insurers, where it sees opportunities to derive positive returns for its investors.
This acquisition marks a positive step for austrion Life in securing new long-term capital backing. The transaction remains subject to certain regulatory approvals, we understand.
austrion Life was formed from a life insurance company that was acquired and rebranded from the now insolvent FWU AG company from Germany, having previously been named FWU Life Insurance Austria AG.
View all of our Artemis Live video interviews and subscribe to our podcast.
All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.
Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.
