The acquisition of Vitis Life – which is currently active in Belgium, France, Italy, the Netherlands and Spain, as well as Luxembourg – represents an important step in the development strategy of Monceau Assurances, enabling it to expand its life insurance activities in various European markets from Luxembourg.

In turn, the transfer of Vitis Life reflects KBL epb’s focus on its core business of private banking, fully in line with the group’s long-term growth strategy, which includes organic, semi-organic and external initiatives. Through such actions, KBL epb continues to consolidate its position as the leading pan-European private banking group headquartered in Luxembourg.

In addition, given the complementarity of the French client base of Monceau Assurances, this transaction will create opportunities for KBL epb to strengthen its private banking business in that country.

Monceau Assurances – which provides life, property and casualty, and reinsurance cover to its more than 300,000 policyholders – highlighted that Vitis Life will continue to be managed by its current leadership team, and that clients would experience a very high level of continuity.

“The acquisition of Vitis Life is an important step forward for Monceau Assurances,” said Gilles Dupin, CEO, Monceau Assurances. “We are delighted at the prospect of sharing with their clients and partners our know-how and expertise in life insurance and retirement solutions. With Vitis Life, we are also in a position to offer additional solutions and services to our existing clients.”

He added: “We look forward to the arrival of our new colleagues, who will continue to serve their clients and develop their business, while benefiting from a broadened range of solutions.”

“At a time when we are focused on the sustained growth of our core business of private banking, we have identified in Monceau Assurances a strong new parent for Vitis Life,” said Yves Stein, Group CEO, KBL epb. “Today and in future, as the company continues to expand, Vitis Life will serve as a trusted partner.

“In parallel, KBL epb’s vision remains firmly forward-looking and our progress clearly measurable,” he said. “In the first six months of this year, our group has appointed over 100 new staff, developed a range of new products and services, finalized two important acquisitions and is actively reviewing further such opportunities. Moving ahead, we will continue to build on this positive momentum.”

Nicolas Limbourg, CEO, Vitis Life, said: “We greet today’s announcement with enthusiasm about the future opportunities it represents – as a member of the Monceau Assurances group and as a continued partner of KBL epb.

“Driven by increased regulation and the digital revolution, the European insurance sector is evolving at a record pace. We, too, must continue to change with the times – creating additional added value for our clients and partners.”

He concluded: “This agreement with Monceau Assurances therefore comes at an ideal moment. With the support of our new parent and the full commitment of our expert staff, Vitis Life will continue to extend the high level of service our clients expect, with an expanded product offering and even greater ability to invest in innovation.” The terms of this agreement, which remains subject to approval by the relevant regulatory authorities, were not disclosed.