2021 : HISTORICAL AND RECORD UNIT-LINKED PREMIUM INCOME FOR SOGELIFE
During 2021, marked by a strong recovery in the Luxembourg life insurance sector, SOGELIFE's premium income increased by 31%, thus confirming its position as a major player in the sector.
- Turnover : €2.25 billion
- Assets under management: €14 billion
- Company Income: €28.5 million
- Solvency ratio: 167%
SOGELIFE, which is celebrating 25 years of activity in Luxembourg, achieved one of the best turnover figures in its historyin 2021, particularly in unit-linked investments. With EUR 2.25 billion in premium income over the year and limited redemptions, assets under management now stand at EUR 14 billion, up 17% on 2020. The solvency ratio of 167% also remains high. These results are in line with the business mix transformation strategy, which aims to increase the share of unit-linked investments within new premiums and in existing policies. Since 2015, the share of unit-linked insurance in assets under management has more than doubled.
This strong performance is particularly evident in our French, Italian and Monegasque markets thanks to the positioning of our offer to HNWI (High Net Worth Individuals) and UHNWI (Ultra High Net Worth Individuals) with tailor-made investment and wealth planning solutions. In this favourable context, SOGELIFE has accelerated developments in Socially Responsible Investment (SRI), innovation and human capital:
- SOGELIFE launched SOGELIFE Positive Investment, a 100% SRI unit-linked policy labelled as a Sustainable Insurance Product (SIP) by LuxFLAG. This initiative is part of the company's CSR (Corporate Social Responsibility) transformation, and SOGELIFE was recognised as a "Responsible Company" by the INDR in early 2021.
- Multiple projects were launched with the goal of optimising the partner and client experience through: the simplification of all documentation according to our UX Design approach, the launch of the policy monitoring platform (Track & Trace), but also that of mysogelife.com, the platform dedicated to clients and offering policy information in real time. With these transformations, the 100% digital path will be possible in 2022 with the implementation of the e-signature on all our markets and the launch of the mobile app.
- Finally, the question of work, adapting to new challenges, new communication tools, digital and ESG transformations, and acquiring new skills has enabled SOGELIFE to adapt quickly and easily to the uncertainties of the health crisis, to the new constraints and above all to the needs of its clients and partners.
"These transformations allow us today - and will allow us tomorrow - to better respond to the specific demands of our partners and clients by offering tailor-made, innovative, demanding and responsible investment solutions”. Jean Elia, CEO SOGELIFE