Category: Acquisitions

HSBC Insurance (Asia Pacific) Holdings, an indirect wholly-owned subsidiary of HSBC Holdings (HSBC), has completed the acquisition of 100% of the issued share capital of AXA Insurance Pte Limited (AXA Singapore) for a consideration of $529m, subject to closing adjustments.

The acquisition of the provider of AI-driven solutions advances CCC’s vision for straight-through processing across the claims lifecycle.

Howden, the London-based insurance broker, has announced the acquisition of Tower SpA, a specialist insurance broker and risk advisory firm based in Vicenza, Italy.

French startup Luko is acquiring German startup Coya in order to grow its European presence and get an insurance license from German regulator. While Luko isn’t disclosing terms of the deal, the company says it’s a 100% share deal, which means that Coya investors are now Luko investors. Those investors include Valar Ventures, Headline and Roland Berger’s family office.

Swiss Re Corporate Solutions has acquired US-based independent ESL managing general underwriter (MGU) TMS Re for an undisclosed sum.

Beat Capital Partners, a long duration investor specialising in the insurance industry, has announced the sale of Tarian Underwriting to Corvus Insurance, a provider of smart commercial insurance products powered by AI-driven risk data.

Tampa-based HCI Group Inc. has agreed to buy United Insurance Holdings’ lines of business in three states.

2021 has been a record year for insurtech funding. As of Q3 2021, more than US$10.5 billion had been raised by companies in the space year-to-date (YTD), surpassing 2020’s total of US$7.1 billion by nearly 48%, data from insurance advisory firm Willis Towers Watson show.

Pet health and insurtech company, Bought By Many, has acquired VetBox, a UK pet health subscription and fulfilment business, in a major step in the extension of its offering beyond insurance.