Axa puts the seal on theacquisition of Prima AssicurazioniFour months after the announcement, the French group has closing completed of the operation which involves the transfer of the 51% of the capital of the Italian company for a total consideration of 538 million euros.
Prima's entry into the Axa perimeter represents a key step in the expansion strategy in the Italian car insurance market, where the group aims to consolidate the weight of direct distribution and grow in a segment that is still highly competitive.
An insurance fintech at the service of a global giant
With this transaction, Axa secures a player that has accelerated the digital transformation of auto insurance in Italy in recent years. Prima brings to the group a natively technological model, advanced skills in algorithmic pricing and claims management, as well as a customer base exceeding 5 million insured. These elements, according to the French group, should be integrated with AXA's international scale to strengthen its direct offering in Europe, one of the most significant growth drivers in recent years.
An industrial gamble that looks to the long term
Strengthening its presence in Italy is nothing new in Axa's strategy. Already in August, when it made the €500 million offer for a majority stake in Prima, the group had set specific goals: to double the motor business in the country and leverage the technological platform developed by the Italian company.
Today's closing updates the valuation to €538 million and officially opens the operational phase of the integration. For Prima, access to the resources and expertise of a global leader represents a significant advantage. accelerator to expand its products, technologies, and management capabilities, consolidating a position that has made it a leading digital auto insurance company in Italy in recent years.
