EFG International is today announcing the divestment of its synthetic life insurance portfolio.
Together with the recent successful placement of CHF 340 million of senior unsecured debt with Swiss investors by EFG Bank AG, as announced on 21 February 2025, this transaction will further strengthen EFG’s balance sheet and is a testament to EFG’s commitment to de-risk legacy matters.
Following the announcement of EFG’s full-year 2024 results on 19 February 2025, EFG has made further progress in de-risking its life insurance exposure and has divested its synthetic portfolio of life insurance exposure (consisting of direct holdings of life insurance policies, plus hedge instruments for 44 insureds as at 31 December 2024). The sale is expected to have a slightly positive impact on EFG’s earnings in the first half of 2025.
With the sale of the synthetic portfolio, EFG is further reducing the legacy life insurance exposure it acquired more than fifteen years ago. For more details on EFG’s life insurance exposure, please refer to EFG’s full-year 2024 results presentation.
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About EFG International
EFG International is a global private banking group offering private banking and asset management
services and is headquartered in Zurich. EFG International’s group of private banking businesses
operates in over 40 locations worldwide. Its registered shares (EFGN) are listed on the SIX Swiss
Exchange.
Important Disclaimer
This document has been prepared by EFG International AG (“EFG”) solely for use by you for general information only and does not contain and is not to be taken as containing any securities advice, recommendation, offer or invitation to subscribe for, purchase or redeem any securities regarding EFG.
This release contains specific forward-looking statements that reflect EFG’s intentions, beliefs or current expectations and projections about EFG’s future results of operations, financial condition, liquidity, performance, prospects, strategies, opportunities and the industries in which it operates. Forward-looking statements involve all matters that are not historical facts. EFG has tried to identify those forward-looking statements by using the words “may”, “will”, “would”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “project”, “believe”, “seek”, “plan”, “predict”, “continue” and similar expressions. Such statements are made on the basis of assumptions and expectations which, although EFG believes them to be reasonable at this time, may prove to be erroneous.
These forward-looking statements are subject to risks, uncertainties and assumptions and other factors that could cause EFG’s actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward-looking statements. Important factors that could cause those differences include, but are not limited to: changing business or other market conditions, legislative, fiscal and regulatory developments, general economic conditions in Switzerland, the European Union and elsewhere, and EFG’s ability to respond to trends in the financial services industry. Additional factors could cause actual results, performance or achievements to differ materially. In view of these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. EFG and its subsidiaries, and their directors, officers, employees and advisors expressly disclaim any obligation or undertaking to release any update of or revisions to any forward-looking statements in this media release and any change in EFG’s expectations or any change in events, conditions or circumstances on which these forward-looking statements are based, except as required by applicable law or regulation.
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Source:
EFG International AG, Bleicherweg 8, 8001 Zurich, Switzerland
efginternational.com
