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SOGELIFE, RECOGNISED FOR ITS KNOW-HOW ...
Sogelife is a life insurance company created in the Grand-Duchy of Luxembourg by the Société Générale Banking Group. Well known for its international business, Sogelife offers a range of customised services to partners and high net worth clients. Growth strategy
at Sogelife is based on the values shared by the entire Société Générale
Group :
The outstanding political, economic and social stability of Luxembourg has for many years been the basis of the trust shown by a discerning international clientele seeking dynamic and rigorous management of their assets. Sogelife is authorised to do business on a Freedom of Services basis in most European countries and thus, can count on the technical expertise of its shareholders in the insurance and private banking sectors. As a subsidiary of both Sogécap and Société Générale Bank & Trust, Sogelife has priority access to the Group's international business management centres.
For several years, Sogécap, the French life insurance company of the Société Générale Group has ranked amongst the top 5 life insurers in its domestic market. Ever since Sogelife was set up in 1996, Sogécap has been pursuing its international development and today it is present in a large number of countries. Currently, Sogécap manages assets totalling over 57 billion euros. The company is a market leader in France for insurance products linked to investment funds and is considered to be one of the most dynamic companies in the fields of savings, life insurance and pensions.
Société Générale Bank & Trust (SGBT) is the Société Générale Group‘s reference for international private banking. With over a century of experience in Luxembourg, SGBT works closely with the experts at SG Private Banking in the sectors of wealth management, financial consulting and international wealth engineering.
The Grand-Duchy of Luxembourg is today recognised as one of the world's main financial centres and ranks as number 2 globally in relation to the volume of assets under management. The Luxembourg authorities have created conditions that are favourable for the development of the life insurance sector by adopting regulations that are flexible and pragmatic in product design. In designing its investment products, Sogelife makes
use of a wide selection of funds that are recognised on the market
and offer various classes of asset, geographic area and management
styles. As a member of the Société Générale group, Sogelife can rely on unique know-how resources in the field of wealth management engineering to assist customers in devising the best solutions for their individual needs. Luxembourg is a highly stable forum, which is a crucial issue in life insurance that so often plays an important role in long-term wealth and succession planning. Luxembourg is a civil law jurisdiction where a life insurance contract enables secure and dependable payout to beneficiaries in the event of death since policies are based on the legal principle of “rights on account of third parties”. The Grand-Duchy has a flexible, pragmatic and cohesive legal framework, which has been enriched over time by enactment of the European life insurance directives. The protection of private life and civic rights is particularly well secured. Strict regulation of the electronic processing of personal data has been set up over recent years. The principle of professional secrecy extends both to financial institutions and banks as well as to intermediaries and insurance companies in order to guarantee the confidentiality of transactions. Only in certain borderline cases do exceptions have to be made: for reasons of public order, especially regarding money laundering, or to comply with European regulations relating to insurance companies transacting business under Freedom of Services rules. The special prudential measures imposed by Luxembourg regulations related to insurance companies are designed to ensure a high protection level for policyholders. A three party agreement signed by Sogelife, Société Générale Bank & Trust, the asset holding bank, and the Insurance Commission (Commissariat aux Assurances) guarantees the separation of policyholder assets from shareholder assets. Under the terms of this agreement, it is the Luxembourg state that guarantees the existence of the assets backing Sogelife's insurance commitments.
Luxembourg's central position, in the heart of Europe, has made it, a open country to trading on an international level. Much of the success that the country has with international investors is due to the foreign language skills and the professional qualifications of its working population. Luxembourg has tax rules that help promote life insurance. A life insurance policy taken out with Sogelife by a non-resident is completely tax neutral. Under current legislation and regulations the policyholders and beneficiaries are only subject to the tax rules of their country of residence. They are simply asked to make sure that they comply with any such rules. |
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