TDI Daily Newswire - 02nd June 2021

Published: Wed, 06/02/21

Welcome to The Digital Insurer Newswire, a daily updated selection of curated InsurTech and digital insurance news from around the web.

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Today’s top selected digital insurance content

European insurtech startup Wefox grabs $650 million at $3 billion valuation

German startup Wefox has raised a $650 million Series C funding round led by Target Global. Following this funding round, the company has reached a post-money valuation of $3 billion. Wefox is a digital insurer focused on personal insurance products, such as household insurance, motor insurance and personal liability insurance.

TECHCRUNCH

Generali Completes Purchase of AXA’s Greek Units, Forms Bancassurance Agreement

Generali has completed the acquisition of AXA Group’s Greek subsidiary, AXA Insurance S.A., for €167 million ($204 million). The deal is in line with Generali’s strategy to strengthen its leadership position in Europe as Generali becomes a leading player in both P/C and health, while also strengthening its position in life insurance.

INSURANCE JOURNAL

Health insurance startup Plum receives $15.6m Series A boost

Indian employee health insurance startup Plum has secured $15.6m in a Series A round led by Tiger Global to drive growth. Indian employee health insurance startup Plum has secured $15.6m in a Series A round led by Tiger Global to drive growth.

LIFE INSURANCE INTERNATIONAL

Bought By Many closes $350 million Series D round

EQT announced that EQT Growth has invested in Bought By Many as part of the pet insurance provider’s $350 million Series D round, at a pre-money valuation of over $2 billion. Additional investors include CommerzVentures, FTV Capital, Munich Re Ventures, Octopus Ventures, and Willoughby Capital.

COVERAGER

Apollo’s ibott division partners with Israeli insurtech CI

Apollo’s sharing economy initiative ibott is partnering with Israeli insurtech CI in an effort to reduce fleet and rider insurance costs and turn insurance into a revenue source by offering on-demand cover.

REINSURANCE NEWS

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