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Acquisition of CXA Group’s brokerage arms

CXA Group

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:

  • There will be no changes to the high standards of service that we provide our corporate clients, and you will continue to work with your dedicated key account manager.
  • All existing and new corporate clients will have access to our state-of-the-art Prime Care Portal for streamlining the plan administration process, as well as all of CXA Group’s employee benefits technologies.

Thank you for your continued support.

Frequently Asked Questions

Who is Pacific Prime?

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.

Who is CXA Group?

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.

What is the reason for this acquisition deal?

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.

What are the specifics of the acquisition deal?

As of February 4th 2021, the Pacific Prime Group has acquired 100% of the following entities from CXA Group:

  • CXA Insurance Brokers Pte.Ltd.
  • CXA Singapore Pte. Ltd. 
  • CXA Insurance Brokers Hong Kong
  • CXA Hong Kong 
  • CXA Benefits Malaysia Sdn Bhd.

How will it affect corporate clients?

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).

Is there anything else corporate clients need to do?

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.