NEWPELGROUP acquires the portfolio of Lex Life & Pension.

NEWPELGROUP is pleased to announce that an agreement has been signed to acquire the portfolio of Lex Life & Pension S.A., a Luxembourg based life assurance company that offers tax efficient solutions to high net worth individuals and expatriates throughout Europe.

The entire portfolio of policies shall be transferred to Altraplan Luxembourg, a subsidiary of NEWPELGROUP, subject to the approval of the insurance regulators. As part of this agreement, NEWPELGROUP shall also take on all Lex Life & Pension's employees and shall purchase the whole of its intellectual property.

Lex Life & Pension

Lex Life & Pension is a Luxembourg life insurance company, regulated by the Commissariat aux Assurances, the local insurance supervisory body, and is licensed to conduct business throughout the European Union under the Freedom to Provide Services framework.

It was incorporated in 1991 under the name of Danica Life and Pension. In July 2005 the name of the company was changed to Lex Life & Pension.
Lex Life & Pension is now present in Denmark, France, Luxembourg, Portugal, Spain and the United Kingdom, serving primarily expatriates or geographically mobile wealthy individuals.

This acquisition will strengthen the capabilities of the Group in terms of wealth structuring through dedicated funds.