Foyer Group’s turnover amounted to €2.36bn in 2022. This is down 14.7% from 2021, when its turnover was €2.768bn. Total assets were at €19.03bn, down from €20.788bn in 2021. Consolidated profit after tax is at €147.72m. However, the valuation of financial assets on equity capital dropped 8.8%. Foyer’s equity in 2022 was €1.157bn, down from €1.428bn in 2021.
Its insurance business in Luxembourg brought in €761.5m in 2022 (up from €708.5m in 2021); its life insurance under the freedom to provide services brought in €1.524bn (down from €2.00bn in 2021).
In Belgium, its insurance business brought in €34.6m in 2022 (up from €32.6m in 2021). Health insurance for expats brought in €40.6m in 2022 (more than double the 2021 results of €19.3m).
It is active in 11 European countries and has 392,000 clients. Foyer has €23.7bn of assets under contract, noted its 2022 annual report, down from €25.07bn in 2021. €14.79bn are in life insurance, while €8.89bn are in wealth management.
Eric Kleynen appointed chairman
François Tesch, member of the board of directors of Foyer S.A. since 2000 and chairman since 2014, is stepping down from his role, but will remain as managing director Foyer Finance. Tesch joined Foyer in 1983.
The new chairman, Eric Kleynen, has been director of Foyer S.A. since April 2021. Kleynen has worked for Morgan Guaranty Trust Company of New York, Assubel, Axa Group and Belfius Assurances.
The departures of Philippe Worré, Michel Tilmant and Alain Huberty from the board, as well as the appointments of Valentine Karsenty, Benoît Tesch, John Penning and Lionel de Hemptinne as directors was also announced on 18 April.