LifeStar Group Chairman Paolo Catalfamo on Tuesday shared that the group’s strategy “is to expand into other European markets, continue to grow the business, primarily in life and health insurance, invest in insurtech platforms and establish partnerships with other health technology providers”.
His comments come off the back of a highly successful 2021, which saw the group register a 245 per cent increase in pre-tax profits, leading the company to consider making other acquisitions in Europe.
In 2021, the Group posted a pre-tax profit of €1.6 million and announced a net assets value of €25 million (increase of 35 per cent), with gross assets standing at €171 million.
The Group has continued the restructuring undertaken since the owners acquired LifeStar, formerly known as GlobalCapital, by implementing a strategic plan designed to permanently resolve legacy issues left by previous business operations and support the consolidation and future growth of the Group.
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