Axa Acquires Majority Stake in Italy’s Prima Assicurazioni in €500 Million Deal
Milan-based InsurTech leader Prima Assicurazioniis joining the Axa Group, after the global insurer signed an agreement to acquire a 51% stake for €500 million. The move will see Prima's existing investors—Blackstone, Goldman Sachs Alternatives, and Carlyle's Global Credit platform—fully exit, while Neurone retains a significant shareholding.
Founded in 2015, Prima has built Italy's largest online motor insurance platform by fully digitalising the value chain with proprietary technology and advanced data analytics. Its portfolio now spans Homeand Familyproducts, aiming to become a one-stop insurance hub. The company counts 4.2 million customers, posted €1.3 billionin Group Gross Written Premium in 2024 (up 47% year-on-year), and generated €104 millionin EBITDA.
CEO George Ottathycalcalled the deal “a milestone recognising the quality of what Prima has built in its first decade.” With over 1,200 employeesacross Milan, Rome, London, and Madrid, plus a network of 1,500 multi-tied agents in Italy, Prima brings Axa both scale and cutting-edge capabilities in technology, pricing, and claims management.
Axa said the partnership will strengthen its position in Italy while accelerating Prima’s strategic growth. The InsurTech has also launched direct online sales in Spain, moving beyond digital comparison platforms like Rastreator, Acierto, and Check24. Spanish premiums have tripled in two years to €20 millionin 2024, with targets to double to €44 millionin 2025.
First, please LoginComment After ~