LATEST ACQUISITIONS

We regularly curate the latest news and insights to create the largest platform for knowledge-sharing and development within the world’s insurance industry.

Trōv Technology Assets Acquired by Travelers

Trōv, one of the earliest and most widely recognized insurtechs, today announced that its technology has been acquired by The Travelers Companies, Inc. (NYSE: TRV), a leading provider of property casualty insurance for auto, home and business. Most members of Trōv’s team have also joined the company. Terms of the transaction were not disclosed.

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HSBC completes acquisition of AXA Singapore

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.

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Insurtech startup Luko acquires Coya and gains insurance license

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.

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Corvus acquires cyber platform Tarian from Beat

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.

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The Biggest Insurtech Funding Rounds of 2021 in APAC

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.

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Bought By Many acquires VetBox

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.

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The state of SPACs in insurtech

Several insurtech companies including Hippo and Metromile, amongst others, have merged with a special purpose acquisition company (SPAC) as a path to being traded publicly on stock markets. This approach became more popular in the past two years, as the COVID-19 pandemic led to companies seeking quick, efficient paths to growth.

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Moody’s Closes $2B Acquisition of Cat Modeler RMS

Moody’s Corporation and RMS announced today that they have entered into a definitive agreement for Moody’s to acquire RMS, a leading global provider of climate and natural disaster risk modeling and analytics, for approximately $2.0 billion from Daily Mail and General Trust plc.

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Chubb Acquires StreamLabs

Chubb Limited (NYSE: CB) today announced that it has acquired the business of StreamLabs from Australia-based Reliance Worldwide Corporation Limited (RWC). StreamLabs offers leading Internet of Things (IoT) enabled water monitoring, leak detection and water shut-off products.

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Insurity Acquires Instec

The acquisition gives Insurity an advantage in pursuing the $40 billion program business market and enables P&C carriers and MGAs to rapidly grow through bureau content-enabled software.

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Zywave Acquires Enquiron

Enquiron’s proven engagement success, data and technology solutions will complement Zywave’s existing product portfolio and help drive ROI for customers

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Qoala Acquires Thai Insurtech FairDee

Jakarta-based insurtech startup Qoala has acquired Thai peer FairDee, further expanding its reach in Southeast Asia. The company has a presence in Indonesia, Singapore, Malaysia, Vietnam, and now Thailand, serving millions of consumers across the region.

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Chubb Bids for The Hartford’s ‘Crown Jewel’ and More

Five years ago, Evan Greenberg led ACE’s nearly $30 billion acquisition of Chubb, morphing Chubb into its current status as a global property/casualty insurance giant he continues to guide as CEO. Now, the insurer is gunning for even larger size and reach with an offer to pay $23 billion for The Hartford, an industry icon with origins dating back to 1810.

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Aviva Advances Talks to Sell Operations

British insurance giant Aviva is reportedly in advanced discussions regarding the sale of its Italian operations, as it continues to push ahead with around €6 billion (approx. AU$9.3 billion) of divestments.

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NOW Insurance Raises $1.25 million

Houston-based online commercial insurance portal Now Insurance Services announced that it has secured an additional $1.25 million in seed funding led by The MFO Group. The company has raised $2.5 million to date after its initial raise in 2019.

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Next Insurance Acquires Juniper Labs

Next Insurance, the leading digital insurtech company transforming small business insurance, today announced that it has completed the purchase of Juniper Labs, an innovative provider of alternative open data and underwriting technology focused on small businesses.

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Capco Expands Insurance Reach by Acquiring NEOS

Specializing in working with clients that offer life, annuities, retirement, employee benefits, and property and casualty insurance, NEOS provides consulting and delivery services to solve its clients’ strategy, operations, data, and technology challenges.

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Aegon Announces $993 Million Sale

Vienna Insurance Group AG (VIG) is buying Aegon’s insurance, pension, and asset management businesses in Hungary, Poland, Romania, and Turkey for €830 million (around $993 million).

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Zywave Acquires Advisen

The acquisition, which follows the September announcement of Zywave’s own acquisition by Clearlake Capital, includes Advisen’s data, media and Web Connectivity Ltd. businesses

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Bradley Collins

Bradley Collins