Generali and the APICIL Group acquire a stake in IZNES

Source: IZNES

Created in 2017 by a consortium of six management companies, IZNES is now backed by two new renowned investors: Generali and the APICIL Group, via its dedicated fund Insurtech Capital.

They become respectively the first insurer and the first social protection group to enter IZNES capital.

This strategic partnership accelerates the development of a new blockchain ecosystem for processing UCI transactions.

Thanks to this capital increase and the acquisition of stakes by these two major players, IZNES is accelerating its development in France, Luxembourg and Ireland.

For Generali, the French leader in the third-party savings market, this strategic partnership strengthens its leadership in the open-architecture life insurance market and confirms its desire to invest in innovative structures in order to participate in their development.

For the APICIL Group, this investment enables it to develop a strategic and a financial partnership, in line with its innovation strategy. Its dedicated fund Insurtech Capital aims to invest in Fintech, WealthTech and Insurtech at the beginning of their development.

Generali and the APICIL Group also will become users of the IZNES platform in the coming months, in order to optimise the processing and cost of their unit-linked operations.

All the partners of IZNES share the ambition to make it an essential platform..

IZNES, the first pan-European platform for processing UCI transactions in blockchain technology

IZNES offers a complete solution, available to management companies and their investor clients, from the initial contact to the keeping of the register.

The use of IZNES' blockchain technology, without recourse to bank intermediaries, facilitates access to funds, reduces transaction costs and provides an optimal level of security for institutional investors and management companies.

Since its operational launch in March 2019, this integrated solution within the Asset Servicers ecosystem has been very successful and IZNES has already processed more than €15 billion of transactions by the end of December 2020.

They said :

Rémi Cuinat, director of unit-linked assets at Generali France : "The Generali has built a leadership position in Europe by relying on an open architecture life insurance distribution model. This rich and complex model is industrialised, but IZNES offers a solution that optimises asset flows and costs while controlling operational risk. Generali is very pleased to participate in the development of this new ecosystem."

Pasquale Tuosto, Director of New Business Ventures at Generali France : "By acquiring a stake in IZNES, Generali is confirming its desire to make profitable investments in innovative start-ups on the market, characterised by a strong technological component that also enables it to transform and accelerate its business."

Chloé Pruvot, Investment Director of the APICIL Group : "In the search for optimisation in terms of deadlines and security of our UC operations processes and also cash management, we are particularly interested in the IZNES solution."

Minh Q. Tran, Managing Partner of Mandalore Partners, manager of the Insurtech capital fund : "We invest in Fintech, WealthTech and Insurtech to develop industrial partnerships with our (co-)investors. IZNES is an innovative solution that enables the APICIL group to combine industrial and financial benefits."

Christophe Lepitre, CEO of IZNES : "These two major insurance and social protection groups are convinced by the IZNES model and wish to use the platform for their unit-linked operations. The simplicity of the KYC, the quality of the repository and the cost reduction were the reasons for their decision."

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