Valor Group to acquire IWI
Swiss group Valor Group has recently reached an agreement with Belgian insurer Belfius Insurance to purchase its majority stake in Luxembourg based International Wealth Insurer (IWI).
The transaction is subject to approval by the regulatory authority in Luxembourg.
IWI provides wealth management solutions for individuals and families whether under services (in Luxemburg, Belgium, France, Italy and the United Kingdom) or through a local branch (in Switzerland). IWI has over €3bn of assets under management.
Valor Group also focuses on global wealth management services, including insurance based solutions. It serves more than 4,500 policyholders over the world and tallies $6bn (€5.6bn) in assets.
Hugh Dunkerley, president of Valor Group, said: “Capitalising on its brand, we will grow IWI’s business as a core member of the Valor Group. As the new shareholder, we will fully support this ambitious perspective and look to continue the excellent tradition of service for which IWI is renowned. We are proud that BIL – Banque Internationale à Luxembourg – remains aboard as a shareholder, consolidating and possibly expanding their long standing partnership with the group.”