Milan, 25th May 2023. GamaLife Companhia de Seguros de Vida, S.A. (“GamaLife”) today announced that it has entered into an agreement to partner with Goldman Sachs Asset Management to manage the majority of GamaLife’s assets in Italy.
The partnership will allow GamaLife to deliver a wide range of investment solutions for customers and distributors, leveraging the strength, depth and breadth of investment expertise and resources that Goldman Sachs can offer.
Furthermore, GamaLife and Goldman Sachs have identified future areas of strategic cooperation that will support GamaLife’s growth in the Italian market.
Commenting on the announcement, Matteo Castelvetri, CEO of GamaLife said: “We are delighted to partner with Goldman Sachs Asset Management on such a strategic part of our business. Goldman Sachs is a global institution with expertise, reach and track record, all of which will now be available to our clients and distributors in Italy. This announcement confirms our intention to grow in the Italian market and to be an innovative player in the insurance space.”
Goldman Sachs Asset Management is among the largest non-affiliated insurance asset managers globally, managing €390 billion in assets under supervision for more than 200 insurance clients, of which over €125 billion in general account assets on behalf of EMEA insurance companies as of December 31, 2022.
GamaLife is a pan-European life insurance and wealth management platform focussed on innovation and sustainability.
At the end of 2022, GamaLife was the third largest insurance group in Portugal by assets, with €9.4bn assets under management, 520,000 clients and a solvency ratio of 199%.
GamaLife’s mission is to serve the end client in his protection and savings concerns; to serve the distribution channels with levels of service excellence and to consolidate the business and its organizational structure, adding value for shareholders and employees.
About Goldman Sachs Asset Management
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market – overseeing more than €2.2 trillion in assets under supervision worldwide as of March 31, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Follow on LinkedIn.
For more information see www.gamalife.pt or contact:
Hugo Real | email@example.com | 927 997 948 (Press)
Lourenço Galvão | firstname.lastname@example.org | 910 127 228 (Press)
Joseph Stein, Goldman Sachs, +44 207 774 4080
Roberto Patriarca, Community Group, +39 02 89404231