After 5 years with Lifetri, CEO Philippe Wits is stepping down. Under Philippe’s leadership, Lifetri has grown its balance sheet from €200 million to over €2 billion. In 2020, following the landmark risk transfer with the Allianz Dutch Employees pension fund, Lifetri positioned itself as an innovative player in the Dutch Pension Risk Transfer (“PRT”) market.
While there has been a slowdown in growth since then, Lifetri and its shareholders continue to believe in the long-term potential of the Dutch PRT market. In the meantime, Lifetri will reconsider its approach to the PRT market and refocus on internal activities, in readiness for when the opportunities do materialize. A reassessment of the approach and positioning however is necessary to ensure success.
Lifetri has started the process of appointing a new CEO.
Philippe Wits: “I have really enjoyed setting up Lifetri and I am extremely proud what has been achieved. Most of all, I enjoyed working with my colleagues at Lifetri whom I want to thank profoundly for stepping up. It has been an amazing journey. Being a visionary and entrepreneurial CEO, it is now a natural moment for me to part ways. Although I could have stayed and bring Lifetri to the next phase, I am also looking forward to build something else with the same focus on customers and people.”
Peter Borgdorff, chairman of the Supervisory Board: “Philippe played a pivotal role in the past 5 years in building Lifetri. With great admiration I have witnessed how he, in his so characteristic innovative manner, brought Lifetri to the established company that it is today. I am proud that, thanks to his strong eye on both customers and employees, Lifetri has been able to grow its balance sheet from 200 million to over 2 billion. I want to thank Philippe for that milestone, but more importantly for the pleasant cooperation that I personally experienced with him in the past 2 years.”
Rohan Singhal from Sixth Street: “Philippe has been with us since the beginning of our journey in the Netherlands. He has been a real partner to us, and has helped us grow the business from the ground up. We want to thank him for all his efforts and what he has brought the company, and wish him all the best.”
About Lifetri
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Kees Jongsma, SPJ Financiële & Corporate Communicatie
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About Lifetri
Lifetri Groep (Lifetri) is a Dutch insurance group with a history that goes back seventy years. The name Lifetri was chosen in 2018 as a reference to the growth ambitions of the company and also refers to Lifetri’s roots in Dutch society.
Lifetri is located in the Netherlands and under supervision of the Dutch regulators, the Dutch Central Bank (De Nederlandsche Bank) and the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten). Lifetri focusses on guaranteed pensions, term life and funeral insurance in the Netherlands, servicing approximately 550,000 customers.
Lifetri currently provides pension guarantees to (former) employees of Allianz Nederland, and to (former) employees of Klaverblad Verzekeringen.
Lifetri’s principal shareholder is Sixth Street, a leading global investment firm with approximately US$75 billion in assets under management and committed capital. Sixth Street pursues investments, such as Lifetri, and strategic partnerships in the insurance and reinsurance industry through its Sixth Street TAO platform. In addition to Lifetri, the Sixth Street TAO platform holds other dedicated pension and insurance affiliates, including Talcott Financial Group in the US and Clara Pensions in the UK.
Disclaimer
This press release is released by Lifetri Groep B.V. and contains information that qualifies or may qualify as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR).
This press release exclusively contains factual information and must not be interpreted as an opinion or recommendation with regard to the purchase or sale of securities issued by Lifetri Groep B.V. This press release does not contain any value judgements or predictions with regard to the financial results of Lifetri Groep B.V. and/or its subsidiaries.
This press release contains summary information only and does not purport to be comprehensive and is not intended to be (and should not be used as) the sole basis of any analysis or other evaluation and should be read in combination with the Annual Report 2023 of Lifetri Groep B.V.