AXA to acquire Italian insurtech Prima

AXA to Expand in Italy with Prima Acquisition

AXA has recently announced its plan to acquire Prima, an Italian direct insurance firm based in Milan. This move is aimed at strengthening AXA’s presence in the growing Italian insurance market.

About Prima

Prima is a notable player in Italy, boasting recorded premiums of approximately €1.2 billion in 2024. The company is known for its innovative approach to insurance and digital offerings, which could complement AXA's existing services.

Key Players Involved

The agreement officially positions AXA as a significant competitor in the Italian insurtech space. The acquisition aligns with AXA’s strategy of enhancing its digital capabilities and tapping into the increasing demand for direct-to-consumer insurance services.

Market Implications

This acquisition may signal a broader trend in the insurance industry, where traditional companies are looking to integrate more tech-driven platforms to adapt to consumer preferences. For existing customers of Prima, this could mean an improved range of services, while contributing to AXA’s overall growth strategy in Europe.

Conclusion

The move to acquire Prima is part of AXA’s ongoing efforts to invest in technology and innovation within the insurance sector. As the market continues to evolve, this acquisition could help AXA meet the needs of a more digital-savvy clientele.

Original Source: https://siliconcanals.com/axa-to-acquire-italian-insurtech-prima/