Lisbon, 1st of February, 2022 - Fidelidade has completed the acquisition of a 70% stake in the insurtech group headed by the prosperity company AG, after reaching agreement with majority shareholders and the management team in the second half of 2021 and having obtained the relevant regulatory authorizations.

The transaction ensures Fidelidade management control, as well as the maintenance of the executive management team, which reinforces its shareholder position to 30%.

For Rogério Campos Henriques, CEO of Fidelidade: "With the completion of this transaction, Fidelidade strengthens its know-how in long-term savings and retirement solutions. The prosperity group is an innovative group with over 98% of its customers coming from Switzerland and Germany, two of the European markets with the highest level of sophistication and maturity in this line of business, whose acquisition will allow Fidelidade to improve its offer in savings insurance and provide more flexible solutions to its business partners in distribution".

The prosperity group's main activity is the development of long-term savings products, based on innovative technological solutions, operating not only in Switzerland and Germany, where it has most of its clients, but also in Austria, Italy, and Liechtenstein. With a total of 75,000 policies and gross premiums in 2021 of 200 million euros, it has an expected global committed premium volume of more than 5.5 billion euros in the coming years.

Fidelidade is the leading insurance company in Portugal, both in life and non-life business, with a current market share of around 30.7%. The company is present in the various business segments of insurance activity and benefits from the largest network in Portugal, with a presence in several countries, namely Angola, Cape Verde, Mozambique, Spain, France, Macau, Peru, Bolivia, Paraguay, and Chile. 

Fidelidade operates based on a defined and continued strategy of "Customer Centric Approach", where customers effectively come first. The fact that it gives crucial importance to the quality of the service it provides and to the comprehensive and innovative offer it provides make Fidelidade one of the most awarded insurers in Portugal, as well as internationally. In 2014, Fidelidade was distinguished by the "Efma Accenture Innovation Awards", in the "sustainable business" category, with its 'WeCare' project, which aims to support the correct reintegration of people who were victims of serious accidents that jeopardised their physical, economic, and social reintegration. 

Fidelidade finalises purchase of 70% 
of Insurtech Prosperity Group 

Fidelidade finalises purchase of 70% 
of Insurtech Prosperity Group

Fidelidade acquires majority stake of insurtech the prosperity company AG 

Lisbon/Ruggell, 19th of August 2021 – The Portuguese insurance group Fidelidade has reached an agreement with majority shareholders and with the management team of the Insurtech the prosperity company AG to acquire 70% of the company’s shares.

This operation will allow Fidelidade to secure control of the prosperity company AG while the current management team, who have also increased their stake in the company to 30%, will continue running the group and its subsidiaries among others the life insurer Liechtenstein Life Assurance AG, in a clear sign of confidence in the strategic path and future prospects of the company.

For Rogério Campos Henriques, CEO of Fidelidade: “Fidelidade has defined as part of its strategic plan to strengthen its product offering to clients and families seeking to invest their long-term savings. The prosperity company AG is an innovative company with more than 98% of its customers coming from Switzerland and Germany, two of the most sophisticated and mature markets within Europe in this line of business. With this acquisition, we expect to strengthen our know-how and to expand our business by improving our offering in savings insurance products, contributing with more flexible solutions to our distribution partners.”

Reto Näscher, CEO of the prosperity company, explains: "We are very pleased that with Fidelidade we have been able to gain a forward-looking, renowned and technologically strong strategic partner. Together with Fidelidade, we can consistently develop and implement our digitalization and growth strategy and offer our stakeholders even better and more comprehensive services."

The main activity of the prosperity company AG is the development of long-term pension-like life insurance products, based on innovative technology-driven solutions. This Insurtech operates mainly in Switzerland and in Germany, being also present in Austria, Italy, and Liechtenstein. By the end of 2020, the company counted with close to 67 thousand policies, translated into annual gross premiums written of 145 million Euros and to a total committed premiums of more than 4 billion Euros (to be committed during the total lifetime of the contracts in force).

The conclusion of this transaction is subject to the necessary approvals from the relevant regulatory and supervisory authorities.

The Fidelidade Group, whose origins date back to 1808, is the leading insurance group in the Portuguese market, with a 25.6 percent. market share in life insurance products and a 28.4 percent. market share in non-life insurance products at the end of December 2020. The Group plays a fundamental role in the Portuguese financial ecosystem, with more than 2.3 million customers and 3,300 employees in Portugal (6,8 million customers and 7,000 employees globally). At an international level, Fidelidade is also present in Spain, France, Luxembourg, Angola, Cape Verde, Macao, Peru, Bolivia, Paraguay, and Chile.

The insurtech the prosperity company, founded in 2018, invests in ideas and solutions in the areas of wealth building and retirement planning. The goal of the company group is to build a holistic digital ecosystem for wealth building, retirement planning and risk protection.

The prosperity company includes the insurance company Liechtenstein Life Assurance AG, the intermediary management company prosperity brokershome AG, the service provider for compensation agreement cashyou AG, and prosperity solutions AG, which develops insurtech solutions such as the prosperity end-user app for managing financial and pension products. More than 850 insurance intermediaries sell the products and services of the prosperity group, which serves over 67,000 end customers. The prosperity company and its subsidiaries employ around 100 people in Liechtenstein and Berlin and.

Fidelidade acquires majority stake in insurtech company the prosperity company AG

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