Pacific Prime adopts a unique approach to broking, with a specific focus on building technology to support clients.
4 February 2021
Pacific Prime is extremely delighted to announce our acquisition of CXA Group’s brokerage arms in Hong Kong and Singapore. This acquisition will solidify our presence in the Asia Pacific region, as well as complement our technological capabilities and offerings to corporates.
Our fundamentals lie in simplifying the world of insurance and elevating the client experience, of which technology plays a significant role. Since our humble beginnings in Hong Kong in 1999, we have continually innovated in this area, and steadily expanded our global presence. Today, we are one of the foremost insurance brokerages in the world.
As a leading insurtech start-up, CXA Group shares our commitment to using technology to transform the corporate insurance and employee benefits landscape, and has built an impressive brokerage team. CXA Group will be exiting this sector to focus on its cloud-based enterprise SaaS business, and we are honored to carry on developing their brokerage arms. We would like to highlight what this acquisition deal means for our corporate clients and those of CXA Group:
Thank you for your continued support.
Founded in Hong Kong in 1999, Pacific Prime is a global health insurance broker and employee benefits specialist helping individual, family, and corporate clients secure best-value insurance solutions. The brokerage has established a truly global footprint with its offices in 10 locations across the world.
As a Singapore-based insurtech start-up founded in 2013, CXA Group has quickly earned a name for itself as one of the region’s leading innovators in the insuretech space. It is a one-stop, predictive and data intelligence platform dedicated to promoting better health, wealth, and wellness choices.
Pacific Prime seeks to expand in Asia Pacific and strengthen our technological capabilities. Given that CXA Group’s cloud-based enterprise SaaS business has experienced a surge in demand amidst the COVID-19 pandemic, the insurtech faced competing priorities, thereby seeking to exit the brokerage sector. We are honored to take over their impressive and technological-driven brokerage sector in the key markets of Hong Kong and Singapore.
As of February 4th 2021, the Pacific Prime Group has acquired 100% of the following entities from CXA Group:
All new and existing corporate clients globally will now have access to CXA Group’s industry-leading employee benefits technology, alongside the existing technology offered by Pacific Prime, including the Prime Care Portal (PCP).
No, there is nothing else corporate clients need to do, as they will continue to work with their key account manager, who will inform them of any new technological offerings available. We aim to make this acquisition as seamless as possible for clients.