Insurtech company wefox to offload Italian businesses to J.C. Flowers

GlobalData

Wed, May 14, 2025, 4:09 AM 1 min read

Insurtech institution wefox has entered into an statement to divest its Italian entities, wefox MGA and wefox Services Italy, to funds managed by backstage equity steadfast J.C. Flowers & Co.

Financial specifics of the woody were not shared.

The subsidiaries chiefly absorption connected affinity distribution, with a absorption connected centrifugal insurance.

This transaction is portion of wefox's broader strategy to execute further “financial flexibility” and marks the decision of its restructuring.

Deal completion is anticipated by the extremity of the 2nd 4th of 2025 (Q2 2025), contingent connected the fulfilment of modular closing conditions.

The merchantability allows wefox's absorption team, led by CEO Joachim Müller, to ore connected processing the halfway concern and unafraid “sustainable financing”.

The operational activities of the Italian companies volition proceed arsenic usual, with wefox customers and concern partners successful Italy maintaining their existing contacts for medication services and claims support.

The disposal of the Italian subsidiaries follows a bid of decisions by wefox designed to streamline its concern model.

In January, wefox Insurance agreed to merchantability its run-off portfolio to DARAG, which included centrifugal harm and third-party liability, backstage liability, and spot concern crossed Germany, Italy and Switzerland.

Furthermore, successful August past year, wefox Group revealed its exit from the German security marketplace by selling assona to Ecclesia Group and transferring its security brokerage operations to IWV Versicherungsservice done the merchantability of a subsidiary.

"Insurtech institution wefox to offload Italian businesses to J.C. Flowers " was primitively created and published by Life Insurance International, a GlobalData owned brand.

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