Athora announces agreement to terminate closed life book transaction in Germany

Pembroke, Bermuda, 2 May 2024 -  Athora Holding Ltd. (Athora) today announces that its subsidiary, Athora Deutschland GmbH, and AXA Germany have mutually agreed to terminate the transaction for the purchase of the former DBV-Winterthur Life closed life book portfolio, agreed in July 2022. 

The termination agreement is consistent with the contractual terms of the sale agreement between the parties and follows significant changes in financial market conditions since signing. 

Athora remains committed to further growth in the German savings and retirement services market, and has meaningful undrawn equity capital, totalling €2.2 billion, to further grow its footprint in Europe.  Athora is backed by permanent capital funded by a high quality, long-term oriented shareholder base and operates a patient long-term strategy that continues to deliver market leading returns to customers in Germany.