PACIFIC-PRIME
9.2.2021 03:02:14 CET | Business Wire | Press release
Global insurance brokerage Pacific Prime has solidified its foothold in Asia Pacific by acquiring the Hong Kong and Singapore brokerage arms of CXA Group , an insurtech company that has exited this sector to focus on its cloud-based enterprise SaaS business. The acquisition deal took place on February 4th, 2021.
CXA's insurtech business is backed by HSBC, Singtel Innov8, the Singapore Economic Development Board's investment arm EDBI and B Capital Group, the venture firm of Facebook co-founder Eduardo Saverin.
The acquisition of CXA Group’s brokerage arms in Hong Kong and Singapore is a breakthrough, as Pacific Prime seeks to continually expand in the Asia Pacific region and globally. The acquisition gives Pacific Prime the technology to offer full-flex and simplified flex solutions to all of its clients around the world.
Neil Raymond, CEO of Pacific Prime, welcomed this move: “CXA Group has expertise that we can benefit from, particularly in using technology to transform the employee benefits landscape. I believe this makes us the third biggest employee benefits broker in Singapore and Hong Kong after the mergers of Aon-WTW and Mercer-JLT. This acquisition propels us towards our long-term objective of being the leading global employee benefits specialist.”
Rosaline Chow Koo, CEO of CXA Group, said: “We’re confident to leave our Hong Kong and Singapore brokerage arms with Pacific Prime, as we share the same commitment to being technology-driven.”
Historically, Pacific Prime has built all of its own insurtech in-house; 15% of its 600 staff are IT-focused. This insurtech approach has been largely responsible for Pacific Prime's growth over the past decade. The technology it is acquiring as part of the CXA deal is extremely complementary to Pacific Prime's in-house technology, and will allow Pacific Prime to offer employee benefits flex solutions to large multinationals, as well as smaller SMEs.
The acquisition will serve to bolster Pacific Prime’s employee benefits and compensation technology, enabling global HR teams to simplify plan administration across multiple jurisdictions and leverage valuable insights from data, as well as streamline total rewards management.
About Pacific Prime
Pacific Prime is a global leader in the corporate insurance and employee benefits space, operating out of 10 locations across the world. The brokerage has a unique approach to employee benefits broking, building technology to support its clients. To learn more about Pacific Prime, visit: https://www.pacificprime.com/corporate .
About CXA Group
CXA Group is Asia’s one-stop, predictive and data intelligence platform. Headquartered in Singapore, the insurtech start-up is dedicated to promoting better health, wealth, and wellness choices. To learn more about CXA, visit: https://www.cxagroup.com/ .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210208005303/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
New Industry Study Finds Quantum Computing Has Entered a Capability Era, With Early Movers Building an Advantage Later Entrants Will Struggle to Close18.6.2026 09:00:00 CEST | Press release
State of Quantum 2026, based on tracked transaction data, a survey of 107 practitioners, and 19 interviews, finds 89% of enterprises surveyed are now hands-on with quantum but only 3% have reached scaled deployment, as the market shifts from accessing quantum systems to building capability around them. Quantum computing has moved past the question of whether organizations can access a quantum system and onto whether they can build something useful around one. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260618639340/en/ State of Quantum 2026 is based on independently conducted research and analysis, authored by The Quantum Insider (Resonance), published by IQM Quantum Computers, and supported by OpenOcean. According to the State of Quantum 2026, the fourth annual industry study published today by IQM Quantum Computers, which is nearing its planned listing on the Nasdaq Global Select Market through its merger with Real Asse
Climate Clock Public Art Trail Opens Across Oulu18.6.2026 08:45:00 CEST | Press release
A major contemporary public art trail exploring climate, time and nature has opened across the Oulu region in Northern Finland as part of Oulu2026 European Capital of Culture. The permanent Climate Clock art trail brings together seven internationally recognised artists in site-specific works across forests, rivers, coastlines, urban environments and cultural heritage sites. The works reflect on climate change and different perceptions of time through sculpture, ceramics, natural materials, sound and kinetic forms. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260617018262/en/ Antti Laitinen – You Are Here (2026), Maija Laitinen/Oulu2026 Already attracting international attention, Climate Clock offers a new public art experience connecting art, science and the northern landscape across the region. The trail opened to the public on 13 June 2026 across six locations: Yli-Ii, Oulu city centre, Ylikiiminki, Oulunsalo, Kiiminki
JTB to Acquire Asian DMC Leader EXO Travel for Accelerated Global Growth18.6.2026 04:00:00 CEST | Press release
— Advancing JTB's “Departing Globally, Arriving Globally” Vision — JTB Corp. today announced that it has reached an agreement to acquire all the shares of All Wise Holdings Pte. Ltd., the operator of Bangkok-based EXO Travel Group, a leading Destination Management Companies (DMCs) in Asia. The acquisition will be made through a JTB group company in the Asia-Pacific region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260615106801/en/ EXO Travel operates in the B2B market, primarily across Asia Pacific. For over 30 years, it has consistently maintained high customer satisfaction based on trust, achievements and high-quality service. The company has a strong brand presence in the affluent markets of Europe, North America and Australia, where the trust of partner companies contributes significantly to its value. Additionally, EXO Travel leverages its extensive network of destinations in Asia Pacific to develop strong products
LabGenius Therapeutics and LG Chem Enter a Research Collaboration, Option and License Agreement to Develop an AI/ML-Designed Tumour-Targeting Antibody18.6.2026 01:01:00 CEST | Press release
The companies have entered into a multi-year research collaboration, option and licensing agreement in which LabGenius Therapeutics will leverage its AI/ML-driven antibody discovery platform,EVA™, to design and engineer next-generation multispecifics with enhanced therapeutic properties LabGenius Therapeutics will receive an undisclosed upfront payment and potential early milestones, plus, if the option is exercised, potential triple-digit million clinical, regulatory, and commercial milestones, along with royalties on net sales LabGenius Therapeutics (“LabGenius”), a drug discovery company combining machine learning (ML) and high-throughput experimentation to optimise therapeutic antibodies, today announced a multi-year research collaboration, option and licensing agreement with LG Chem. The collaboration aims to identify next-generation multispecific antibodies designed to overcome the key limitations of existing immunotherapies, including on-target, off-tumour toxicities. Together,
Joe Vernachio Named President of SOREL18.6.2026 00:00:00 CEST | Press release
Columbia Sportswear Company (Nasdaq: COLM), a leading innovator in active outdoor apparel, footwear, accessories and equipment, today announced that Joe Vernachio will be the next President of SOREL. Founded in 1962, SOREL is a leader in functional and lifestyle footwear that can be worn anywhere from the tundra to the streets of New York City. “We’re excited to welcome Joe Vernachio back to the Columbia Sportswear family,” said Tim Boyle, CEO and Chair of the Board. “Joe is a terrific leader who can build on the great work, talent and momentum in place at SOREL.” Mr. Vernachio led the Mountain Hardwear brand for several years, until he left to become the COO and ultimately, the CEO of Allbirds. His background also includes time as Global Vice President for Product and Operations at The North Face, and key roles at Nike, Spyder, Roots, Calvin Klein and Patagonia. “Joe is a consumer‑focused, collaborative leader with a deep passion for product and brand storytelling. His energy, experti
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom