After the successful development of their private banking operations, the owner of the Banque Havilland group announces its decision to enter into the life insurance business, with the objective to become a major player in the highly specialised PPLI industry serving wealthy investors.

Banque Havilland has 250 employees, managing over 10 billion euros in AuM across ten offices, in eight countries across the world.

The first step in this new venture will be the acquisition of UBS International Life DAC in Dublin, subject to the relevant regulatory approvals. This will provide an important platform for further intended acquisitions which are in an advanced stage of negotiation. Following successful completion, the new business will be named Octium Life DAC.

The group will also announce the recruitment of Aloyse Steichen, a founding member of Lombard International Assurance, to take the role of CEO for the life insurance group which will be formed and to spearhead the development of the new business which will further add to the service capability of the wider group.