Insurance market in motion: Fosun subsidiary plans sale to Athora Germany
The German insurance market may be facing a significant change. According to media reports, a subsidiary of the Chinese conglomerate Fosun is close to finalizing a sale to the company Athora Germany. Athora is being supported in this endeavor by the US financial investor Apollo.
The planned deal involves parts of the life insurance business. Such transactions are currently not uncommon in the industry, as many insurers are looking to reduce their portfolios of old life insurance policies. Due to the prolonged low-interest-rate environment, these contracts are often less profitable for the companies.
In recent years, Athora Germany has specialized in taking over exactly these types of insurance portfolios and managing them more efficiently. With the backing of Apollo, the company has the necessary capital to act as a buyer in the German market. Experts are monitoring such acquisitions closely, as they can have an impact on the customers of the affected insurance companies.
Official details regarding the deal have not yet been confirmed. Should the acquisition be successfully completed, it would be another step in the consolidation of the German insurance sector. Customers whose contracts are affected by such a sale are generally informed of the changes in writing, with the contractual terms for the policyholders usually remaining unchanged.