OneLife, a Luxembourg life assurance specialist for more than 30 years, has published its 2024 annual financial statements.
OneLife recorded a marked upswing in 2024, with premium volumes increasing by 25% to 1.3 billion euros. Inflows notably hit a record in the 2nd half-year, with growth exceeding 50% in all markets where the company operates. In a more favourable economic and financial environment, OneLife benefited from its geographical diversification and from the investments made since 2023 to enhance its service quality in a more demanding regulatory context.
This commercial dynamism underpinned the company’s assets under management, reaching 10.5 billion euros. Combined with optimised cost control, the income generated produced a highly positive result exceeding 16 million euros, an increase of 21% over 2023.
OneLife therefore confirms its financial strength, with its solvency ratio reaching 139%.
“2024 was an excellent year for OneLife. In a context of growing interest in Luxembourg life assurance, the development strategy pursued since 2023 has borne fruit, enabling us to pass the symbolic barrier of 10 billion euros in assets under management”, declares Bruno Valersteinas, CEO of OneLife. “Over and above our solid commercial and financial results, we are proud to have continued to enhance our offering by developing new insurance solutions and new digital pathways for our clients .”
OneLife successfully implemented two strategic projects in 2024: an overhaul of its digital services and the creation of a branch office in Belgium.
With the objective of enhancing the experience of its partners and clients, OneLife developed a new 100% digital application process, based on a proven system used by Groupe APICIL in France. Launched in the spring of 2024 in France and Belgium, this new functionality brings efficiency, speed and fluidity to the life assurance policy application process, with an optimised user experience and interconnectivity with the company’s other digital tools.
At the same time, while exemplifying its strategy of ever closer proximity to its clients and their individual needs, in 2024 OneLife opened a branch office in Belgium. With the launch of its first BeLife policy in October, the company now offers a full range of Luxembourg life assurance products. Belgium is now the second European market, alongside France, where OneLife is offering its services in line with the two European passport arrangements, namely freedom to provide services and freedom of establishment.
Focus & Grow: the new strategic plan of OneLife
In 2024, OneLife completed its 2025-2028 strategic plan. The plan is based on three strategic pillars: client satisfaction, service efficiency and socially-responsible commitment.
The client is placed at the heart of OneLife’s strategy. Client satisfaction is its objective and raison d’être. Accordingly, a “client first” roadmap has been defined to support the operational implementation of OneLife’s objectives: to enhance client focus and understanding, to improve the client experience, to monitor satisfaction and to reinforce the client culture in all of the company’s departments.
The second pillar of the strategic plan: the efficiency of the company, which OneLife will be striving to optimise in order to concentrate resources on service quality. The company will therefore be pursuing the digitalisation strategy introduced in 2023, with particular attention being paid to exploiting innovative technologies, notably artificial intelligence, in order to offer new solutions.
Lastly, OneLife will continue to practice corporate social responsibility. Firstly as an insurer, by contributing to the development of solidarity and a greener economy through its investments and units. Secondly as a socially-responsible company, by supporting organisations helping the most vulnerable. And lastly as an employer, by promoting well-being in the workplace. In this regard, OneLife is proud to have received Great Place to Work certification in early 2025, and will continue to develop this approach.
Resolutely committed to digitalisation, OneLife seeks to remain a human company first and foremost, a company fully attentive to the needs of both its clients and employees.
