German private equity manager Acathia Capital has increased its stake in Swedish life insurance company Futur Pension.
The financial value of the transaction has not been disclosed.
Following the receipt of approval from the Swedish Financial Supervisory Authority, investment vehicles advised by Acathia have increased their joint shareholding in the life insurer from 30% to around 50%.
With more than 11% premium market share, Futur Pension is claimed to be a leading player in the Swedish life insurance industry.
According to its website, Futur Pension operates like a fintech with a capital-light and self-financing business model.
It caters to both private individuals and corporations by offering them solutions within occupational pensions, endowment insurance, private pensions, and life insurance.
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By GlobalDataAs a savings platform, the firm administrates assets in the form of unit-linked insurance policies with some €19bn in assets under administration in 2021.
Furthermore, according to Acathia, end-to-end digitalisation gives Futur Pension a competitive advantage in terms of customer satisfaction, cost efficiency and time-to-market.
Futur Pension CEO Torgny Johanson said: “We are looking forward to leverage the great potential of FuturPension to further increase premium volume, assets under administration and profit in close partnership with our owners.”
Acathia, which is focused on insurers and financial services providers in Europe, has been the joint lead investor in Futur Pension with Polaris, a Nordic private equity manager, since 2019.
Acathia Capital managing partner Thomas Schmitt said: “Futur Pension has increased its market share from 7% to over 11% of premium volume since we have become owners in 2019, making it market leader in Sweden.”