Leading Swedish insurance group Folksam has selected Allfunds Bank group as its B2B investment fund platform provider. Folksam, as one of the largest investment managers in Sweden, will now be supported by Allfunds with its comprehensive and integrated solutions for third party funds.
Stig Harby, Regional Manager Central and Northern Europe at Allfunds said, “We are very proud to announce our new cooperation with Folksam. Folksam completed a very thorough selection process and found Allfunds to be the service provider best aligned with their specific needs and the tailor-made solutions that they require for their funds related product offering. Sweden is an important growth market for Allfunds and insurance companies is a core client segment for our company, where we support in implementing their investment strategies in funds for their life and pension businesses.”
For Folksam it is essential to have solid and reliable cooperation partners with proven track-records in their industries and Allfunds was chosen because of its expertise and global leadership in the fund platform business and related services.
By selecting Allfunds, Folksam gains access to an extensive universe of investment funds, a fully automated fund trading platform and integrated fund data management solutions, in addition to the expertise of one of Europe's largest fund research teams.
For Allfunds, the cooperation with the Folksam represents a great opportunity to partner with a well-anchored pillar of the Swedish insurance market since 1908, and thus through its innovative and efficient solution offerings in third party funds expand its position in the Swedish market.
In order to service clients in an optimal manner with the local expertise familiar with the particularities of the Swedish fund market, Allfunds agreed earlier this year to acquire the fund platform Nordic Fund Market with its highly motivated team based in Stockholm.
Juan Alcaraz, CEO at Allfunds stated, “We are really excited about this new cooperation and honoured for the opportunity to be working together with Folksam as a leading insurance group in Sweden. Folksam is a key partnership for our company and very important for Allfunds’ strong Nordic market ambitions and the future growth activities out of our new Stockholm office.”
Notes to Editors:
Allfunds Bank group is one of the world´s leading wealthtech providers with a service offering including trading & custody, portfolio & reporting tools, research, big data & analytics, as well as regulatory services in investment funds. Created in 2000, today Allfunds has more than €500 billion assets under administration and offers close to 78,000 funds from more than 1,400 fund managers. Allfunds has a local presence in Luxembourg, Switzerland, UK, Spain, Italy, United Arab Emirates, Singapore, Chile, Colombia, Brazil and soon in Sweden and Hong Kong. Allfunds serves 645 institutional clients, including major insurance companies, commercial and private banks, fund managers, financial supermarkets, international brokers, and specialist firms from 50 different countries.
Folksam offers a broad range of products that include life and non-life insurance such as occupational pension plans, saving plans, personal insurance, householders’ and houseowners’ insurance, commercial insurance for cars, boats and pets as well as different types of group insurance for sport organisations, trade unions and other organisations. Folksam was founded in 1908 as a response to great injustices. In the beginning of the 20th century there was a lack of insurance solutions for ordinary people with a low income on the Swedish market. Folksam changed this injustice and offered insurance to everyone and did so to a reasonable price. Today Folksam is a leading insurance group in Sweden and with about 4 million customers with one out of two Swedes being insured by Folksam. Folksam is a mutual company owned by its customers.
Global Head of Corporate Communications
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