Deutsche Bank AG and its asset management division, DWS Group, are reportedly looking to invest fresh capital in Fussen International-controlled life insurance consolidator Frankfurt Lebens. The investment will be in exchange for a significant minority stake, according to a Bloomberg report on Wednesday. Neither Reuters nor DWS could immediately confirm the report, and a DWS spokesman declined to comment.
Deutsche Bank, Frankfurt Leibn, and Fussen have not yet responded to requests for comment. Frankfurt Leben manages approximately 700,000 insurance contracts with investment portfolios worth approximately 13 billion euros. Deutsche Bank is a German multinational investment bank and financial services company based in Frankfurt, Germany. DWS Group is an asset management company, also based in Frankfurt, Germany.
The backing of Deutsche Bank and DWS could provide Frankfurt Lebens with the resources to accelerate its acquisition strategy. Additionally, the capital injection could potentially enable the company to resume writing new life insurance policies. The move comes as the insurance sector faces increasing pressure to adapt and adapt to changing market conditions.
Frankfurt Leben focuses on consolidating and managing existing life insurance portfolios. Further details about the potential investment, including the size of the stake and the amount of capital being considered, remained unknown. Investors will be watching closely for any official announcements from the parties involved.
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