Folksam, the Swedish insurer, has selected Allfunds Bank as its b2b investment fund platform provider, which gives access to solutions for third party funds.
The deal gives Allfunds a client that has been active in the Swedish insurance market since 1908, and increases its footprint in Sweden.
Juan Alcaraz, CEO at Allfunds, said: "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."
Stig Harby, regional manager Central and Northern Europe at Allfunds, added: "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."
Allfunds acquired competitor Nordic Fund Market earlier in 2019, to gan access to local expertise and an existing team based in Stockholm.
Folksam has recently announced other, corporate, changes.
Last week it announced Christina Sjölund had taken up the position as manager of Folksam Group external financial communication. She most recently was head of investor relations and communications at PostNord.
Earlier, on 30 August, Folksam announced the search for a new group CEO, after Jens Henriksson was appointed CEO of Swedbank.
The Folksam group of businesses has some four million customers, and some SEK400bn (€37bn) in assets.