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
Samsung Unveils Industry's Fastest UFS 5.0 Solution for Next-Gen On-Device AI Applications23.6.2026 09:10:00 CEST | Press release
Samsung’s UFS 5.0 solution achieves industry's highest data transfer speed of 10.8GB/s, enabling faster storage and processing in mobile memoryEnhanced power efficiency and smaller package to provide optimal mobile AI experiences Samsung Electronics Co., Ltd., the world leader in advanced memory technology today announced that, for the first time in the industry, it has developed the industry's fastest Universal Flash Storage (UFS) 5.0 solution, which will help enable seamless and highly efficient AI services on future mobile devices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623632789/en/ Samsung Unveils Industry's Fastest UFS 5.0 Solution for Next-Gen On-Device AI Applications The milestone sets a new benchmark for the next-generation mobile memory market as the enhanced performance is expected to allow mobile device users with significantly reduced latency and faster response times when running large language mode
Varco Energy Selects NHOA Energy and IQA-Elecnor for 100MW Old Allen Road BESS23.6.2026 09:05:00 CEST | Press release
Varco Energy (Varco), a pioneering UK-based battery storage asset owner and operator backed by the Adaptogen Capital Battery Storage Fund, is pleased to announce it has signed supply contracts for its 100MW / 244MWh Old Allen Road Battery Energy Storage System (BESS) in West Yorkshire. Highlights: The Old Allen Road BESS adds 100MW to Varco’s portfolio of operational and in-construction projects, taking its operational BESS capacity to 350MW by the end of 2027, with a further 275MW in development. NHOA Energy, in consortium with IQA-Elecnor, will deliver the turnkey EPC project at Old Allen Road, with NHOA Energy supplying the BESS and IQA-Elecnor responsible for the associated balance of plant and interconnection works (33/275kV). GE Vernova has been contracted to provide the project 275kV High Voltage Transformer. The Old Allen Road BESS is a flagship project, designed to provide essential flexibility and grid-balancing services to the UK electricity system. Supply Contract Consortiu
Google and Energy Dome Advance Multi-Continent Energy Storage Buildout with First Bilateral Project in Ireland23.6.2026 09:00:00 CEST | Press release
The 23MW/200MWh CO2 Battery project marks the first bilateral commercial agreement between the companies, relieving grid congestion, promoting energy security and accelerating a 24/7 carbon-free energy solution in Ireland and beyond Today Energy Dome, a leading long-duration energy storage technology developer, and Google announced their first bilateral commercial contract for a 23MW / 200MWh CO2 Battery project located in County Offaly, Ireland. The project is part of a long-term partnership the companies announced last year to deploy Energy Dome’s CO2 Battery technology at scale and advance Google’s ambition to expand access to affordable, secure and 24/7 clean energy for grids globally. This announcement is on the back of a 19 MW/200 MWh project in Arizona announced this month by Energy Dome, Google, and the local utility SRP. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623501211/en/ Rendering of Energy Dome's CO2 B
UNIQA Unifies Customer Risk Intelligence Across 14 Countries with SymphonyAI Financial Crime Compliance Platform23.6.2026 07:07:00 CEST | Press release
Austria's leading insurer implements centralized, insurance-specific AI for customer due diligence across Central and Eastern Europe UNIQA Insurance Group, one of Austria's and Europe's leading insurers, has selected the financial crime compliance platform from SymphonyAI, a global leader in Vertical AI, to unify customer due diligence (CDD) across its Central and Eastern European footprint. With operations spanning 14 countries and approximately 17 million customers, UNIQA brings one of the most complex compliance environments in the region to a single, centralized intelligence layer. Building for complexity, not around it UNIQA sought a CDD capability that matched the complexity of a pan-European insurer: one that could classify customers across risk categories consistently, keep pace with a shifting regulatory landscape across Central and Eastern Europe, and scale across diverse markets without requiring country-by-country customization. UNIQA selected SymphonyAI following a competi
Lenovo Recognized in the Gartner® Supply Chain Top 25 for 202623.6.2026 06:00:00 CEST | Press release
Lenovo has once again been ranked in the Gartner® Supply Chain Top 25 for 2026, achieving its highest-ever ranking at seventh globally. The Gartner Supply Chain Top 25 is a renowned annual ranking of the world’s superior supply chains. Now in its 22nd year, the Gartner Supply Chain Top 25 identifies, celebrates and profiles excellence in supply chain management. Supply chain teams use the Gartner Supply Chain Top 25 to benchmark performance, transform operations and lead in the future.Lenovo ranked eighth in 2025, 10th in 2024, and eighth in 2023. AI Builds Greater Supply Chain Resilience Global supply chains have faced unprecedented disruption over the past 12 months, driven by tariffs, component shortages, and geopolitical tensions. Lenovo’s strength amid these challenging circumstances has been its ability to build on its AI infrastructure behind its global supply chain, improving resilience, adaptability and execution at speed and scale. Over the past year, Lenovo has evolved its S
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