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APICIL acquired Skandia France and Skandia Luxembourg from the South African group Old Mutual, bringing together highly complementary businesses in life insurance, savings and wealth management. The transaction included both the French life insurance operations and the Luxembourg platform, a recognised hub for international wealth structuring and cross-border insurance solutions.
The acquisition significantly strengthened APICIL’s position in the French savings market while expanding its capabilities in wealth management and international life insurance. It also reinforced the Group’s relationships with independent financial advisors, private banks and wealth management professionals serving affluent and internationally mobile clients.
Strategic Impact
The transaction represented a transformational milestone in APICIL’s long-term growth strategy. Beyond the acquisition of a high-quality French life insurance franchise, APICIL gained access to a Luxembourg life insurance platform offering sophisticated wealth planning and cross-border investment solutions. The combination of French and Luxembourg capabilities enabled the Group to broaden its product range, diversify its distribution channels and strengthen its positioning in the higher value-added segments of the savings and wealth management market.
The acquisition also accelerated APICIL’s emergence as a leading player in savings and wealth management. Together with subsequent strategic transactions, it contributed to the creation of an integrated platform spanning life insurance, investment solutions, wealth advisory and financial services. This disciplined build-up strategy ultimately enabled APICIL to multiply its life insurance assets under management and establish itself among the leading independent players in the French market.
The transaction enabled APICIL to reach a new level, with more than 5 billion euros in client assets under management in wealth management savings. The group will thus have increased its life insurance assets fivefold in four years.
Gimar & Co acted as exclusive financial advisor to APICIL throughout the transaction. This landmark acquisition illustrates Gimar’s deep expertise in insurance, wealth management and financial institutions, as well as its long-standing relationship with APICIL. Over more than fifteen years, Gimar has advised the Group on a series of transformational acquisitions and strategic initiatives that have shaped the development of its savings and wealth management platform.
