Swiss Life International has successfully completed the acquisition of elipsLife with effect from 1 July 2022 in the context of its partnership with Swiss Re announced on 10 December 2021.
elipsLife, headquartered in Liechtenstein with branches in various European countries, is an insurance company for institutional clients such as pension funds and corporates. The company focuses on insurance products that cover the financial consequences of illness, death and accidents.
The partnership between Swiss Life International and Swiss Re aims to provide biometric risk solutions to corporates.
Swiss Life will act as the primary insurer, responsible for partner and client servicing, distribution and operations. In this role, Swiss Life International is further strengthening its presence in core employee benefits markets and scaling its operational platform. Swiss Re will focus on its reinsurance capabilities by reinsuring the existing book and will participate with a share in the new business.
“We are very pleased to have found the perfect partner in Swiss Life to take elipsLife into a successful future”, says Andreas Berger, CEO of Swiss Re Corporate Solutions.
Nils Frowein, CEO of Swiss Life International, comments: “This acquisition will significantly strengthen our employee benefits offering in Europe and will contribute to our risk and fee result which is fully aligned with Swiss Life’s strategy.”