Insurance Post

Hiscox announces Direct Asia acquisition

Bronek Masojada

Hiscox has acquired Singapore-headquartered Whittington Group’s online business DirectAsia, subject to regulatory approval.

Hiscox acquired the business for $55m (£32.8m) plus earn out over four years.

DirectAsia, which recorded $25.3m gross written premiums in 2013, has more than 54 000 customers and employs 140 people

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