Onelife recorded a 21% increase in net income in 2024, the Luxembourg-based life assurance provider on Wednesday 23 April 2025. Earnings exceeded €16.4m, up from €13.6m the , driven by strong commercial performance and cost optimisation.

Premium volumes and asset growth

According to the report, Onelife saw a 25% year-on-year rise in premium volumes, reaching €1.3bn in 2024. Inflows during the second half of the year grew by over 50% across all markets in which the company operates. This growth was attributed to a more favourable economic and financial climate, as well as geographic diversification and prior investment in service quality enhancement, particularly in response to a tightening regulatory landscape.

The commercial momentum supported a substantial increase in assets under management, which totalled €10.5bn by the end of 2024. The company’s solvency ratio was reported at 139%, further underscoring its financial stability.

Commenting on the 2024 results, CEO noted that the company’s development strategy, initiated in 2023, had contributed to surpassing €10bn in assets under management amid increasing interest in Luxembourg life assurance. He added that alongside its financial performance, the company continued to expand its insurance offerings and digital services.

Expansion and digitalisation efforts

The company implemented two major strategic projects during 2024. The first was the development of a fully digital application process for life assurance policies, based on a model used by Groupe Apicil in France. Launched in spring 2024 in France and Belgium, the application aimed to streamline and enhance user experience by integrating with Onelife’s digital ecosystem.

The second was the establishment of a new branch in Belgium. The company introduced its Belife policy in October and now operates in Belgium under both European passport frameworks: the freedom to provide services and the freedom of establishment. Belgium became the second European market alongside France where Onelife has established a direct presence.

Strategic vision for 2025-2028

In 2024, Onelife finalised its strategic plan for the 2025-2028 period, structured around three focus areas: client satisfaction, operational efficiency and corporate social responsibility.

According to the press release, the company outlined operational measures aimed at improving client understanding, monitoring satisfaction and incorporating client-related considerations into internal practices.

The strategy also included steps to improve efficiency through ongoing digital transformation efforts initiated in 2023. The report referenced the application of technologies such as artificial intelligence to support the development of new tools and processes.

In relation to corporate social responsibility, Onelife indicated it would continue directing resources towards sustainable investments, charitable activities and employee-focused initiatives.