MEDVIDA to manage run-off portfolio of Sa Nostra Vida

Written by Adam Cadle

07/07/2023

Spanish insurer, MEDVIDA, has reached an agreement with VidaCaixa whereby it will manage part of Sa Nostra Vida’s life insurance portfolio.

The transaction, subject to regulatory approval by the Directorate General of Insurance and Pension Funds (DGSFP), is expected to be completed during the first half of next year. It is limited to a portfolio that is no longer open to new business.

The agreement covers over 30,000 policies that are part of the insurance business which VidaCaixa acquired after its merger with Bankia Vida and correspond to life savings insurance, life risk insurance and life annuities of retail customers. The portfolio has a volume of €170m in technical provision and will provide €10m in premiums per year.

MEDVIDA CEO Antonio Trueba said: “We are delighted to be able to help VidaCaixa simplify its integration of the Sa Nostra Vida business, as well as offer policyholders the same protection and high-quality service and administration that we provide to all our customers.”

There are no related documents to show at this time.

Portfolio optimisation in today’s challenging market environment

Adam Cadle speaks to Dr Laura Ryan, Head of Research at Ardea Investment Management, about the firm’s insurance asset allocation optimisation tool and the reasons for developing it

The role ETFs can play in the ESG journey for insurers

Justin Wheeler, Head of UK iShares Asset Owner Distribution at BlackRock, and Mark Guirey, Head of EMEA Insurance Segment and UK Asset Owner Client Coverage at MSCI, discuss the drivers behind growth in this area, market reactions to COVID-19, and the role of indexing