Octium Life DAC completes the merger with Octium Assurance AG

We are pleased to announce that the companies Octium Life DAC (“OLDAC”) and Octium Assurance AG (“OAAG”) have merged with effect from 16:00 CET on December 31st.

The merger, and the relating portfolio transfer as a consequence of the merger, has received the necessary authorizations by all the involved Regulators. On 21 October 2024, the FMA Finanzmarktaufsicht Liechtenstein (“FMA”) announced that it had approved the proposed merger of incorporation of OAAG into OLDAC effective on 31 December 2024 as a result of which the OAAG insurance portfolio would be transferred and continue to be managed by OLDAC. This was followed by the order of the Irish High Court on 13th of November 2024 confirming the merger.

The OAAG insurance portfolio transferred to OLDAC comprises policies invested in either funds managed on a discretionary basis by an asset manager (external to Octium Group) or in publicly available collective investments.

OLDAC specialises in offering life insurance solutions for High-Net-Worth clients and families and is regulated by the Central Bank of Ireland to carry out insurance activity.

OLDAC applies similar high standards to customer service and product design that were the case with OAAG. The products of OAAG were very similar in nature to those of OLDAC and were issued in markets in which OLDAC has existing experience. The merger and the consequent portfolio transfer to OLDAC will not cause any disadvantage to any policyholders in terms of the quality of service received in the future or in the management of their policies. The transfer does not entail any change in the terms and conditions of the policies and there has not been any change to the investments previously selected by policyholders, including the asset manager managing policy funds on a discretionary basis.

In relation to any issue pertaining to their policy, policyholders can still refer to our network of trusted partners, such as international brokers, as disclosed within the communications being sent to each policyholder, or directly to Octium Life DAC.

All future communications relating to the insurance policies, being transferred, shall be sent by OLDAC. Any future communications by clients regarding the insurance policies transferred shall also be addressed to OLDAC at the following address: College Park House, South Frederick Street, D02 VY46, Ireland or to the addresses listed on the following website: www.octiumgroup.com, in place of the previous OAAG contact information indicated in the policy documents.

For further information or questions, please refer to our contact details on the website www.octiumgroup.com.