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
Special Olympics Airlift Takes Flight Nationwide; Dove 1 Arrives at St. Paul Downtown Airport19.6.2026 17:09:00 CEST | Press release
Approximately 130 Cessna, Beechcraft and Hawker aircraft and volunteer pilots mobilize to transport more than 800 Special Olympics athletes and coaches to the 2026 Special Olympics USA Games The 2026 Special Olympics Airlift officially took flight today as all participating Cessna, Beechcraft and Hawker aircraft, known as Doves, departed from airports across the country. Dove 1 for arrival day, a Cessna Citation Latitude generously operated by Prent Corporation, landed at St. Paul Downtown Airport (STP) carrying Special Olympic athletes and delegation members, signaling the start of Airlift arrivals for the Special Olympics USA Games. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260619085293/en/ Special Olympics Airlift takes flight nationwide; Dove 1 arrives at St. Paul Downtown Airport (Photo credit: Textron Aviation). The arrival signals the start of the world’s largest cumulative peacetime airlift spanning more than 40
Record Currency Management Participates in Innovative European Bank for Reconstruction and Development (EBRD) -Backed Mongolian Tugrik Transaction19.6.2026 16:53:00 CEST | Press release
Record Currency Management Ltd (RCM), subsidiary of London-listed Record plc (Record Financial Group), is pleased to announce its participation in an innovative local currency bond transaction issued by the European Bank for Reconstruction and Development (EBRD), supporting the development of Mongolia's capital markets while providing institutional investors with access to attractive frontier market opportunities. RCM is the UK currency management arm of Record Financial Group, the London-listed specialist investment group managing USD 115 billion of assets on behalf of institutional clients worldwide. Record's client base comprises pension funds, foundations, sovereign institutions and other asset managers, with whom the Group has built long-standing relationships through its focus on bespoke investment and risk management solutions. Headquartered in London, Record has offices in Hamburg, Zurich, Zug, New York, and Hong Kong. The investment forms part of Record Financial Group's broad
Plasma One Launches to Herald a New Era of Stablecoin Banking19.6.2026 14:29:00 CEST | Press release
Plasma has today announced the launch of Plasma One, its flagship financial product designed to make digital dollars usable for everyday spending, sending and earning. Plasma One is designed to make stablecoins feel like money, only better - more accessible, reliable and efficient. For years, stablecoin adoption has been held back by a fragmented system and poor user experience. We have seen wallets in one place, exchanges in another, and costly off-ramps standing between digital dollars and daily life. Plasma One brings that experience together in a single app, giving users a simple way to spend, send and earn with stablecoins from one account with zero fees. Headquartered in London, the city that gave rise to Revolut, Wise and Monzo, Plasma is making a bigger bet, that the next generation of consumer banking will be built on stablecoin rails, not legacy banking infrastructure. Underneath Plasma One is the Plasma Network, Plasma’s own blockchain, purpose-built to move stablecoins inst
IQM Appoints Craig Ciesla, Former Illumina VP, as CTO; Inés de Vega Becomes Chief Scientist19.6.2026 09:00:00 CEST | Press release
Ciesla is a seasoned deep tech executive with more than 25 years of experience delivering products across industries — from startups to Fortune 500 companies. De Vega brings more than 20 years of experience advancing quantum technologies from fundamental research to intellectual property and industrial applications. IQM Quantum Computers, the global leader in superconducting quantum computers, today announced the appointments of Dr. Craig Ciesla as Chief Technology Officer (CTO) and Dr. Inés de Vega as Chief Scientist, as she transitions from her role as Vice President of Quantum Solutions, deepening IQM´s leadership as the company prepares for its planned Nasdaq listing through a merger with Real Asset Acquisition Corp. (Nasdaq: RAAQ). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260619693929/en/ From left to right: Dr. Inés de Vega, Chief Scientist, and Dr. Craig Ciesla, Chief Technology Officer. Ciesla, an experienced d
Teijin Receives Approval for Additional Indications of XEOMIN® for Cervical Dystonia and Blepharospasm in Japan19.6.2026 09:00:00 CEST | Press release
Teijin Pharma Limited, the core company of the Teijin Group’s healthcare business, and Merz Therapeutics GmbH, a leading player in neurology-focused specialty pharma, jointly announced today that Japan’s Ministry of Health, Labour and Welfare (MHLW) has approved the additional indications for XEOMIN® (incobotulinumtoxinA) for the treatment of cervical dystonia and blepharospasm. This approval represents the fourth and fifth indications for XEOMIN® authorized in Japan, alongside its existing approvals for the treatment of upper limb spasticity, lower limb spasticity and chronic sialorrhea. Cervical dystonia is a focal dystonia characterized by involuntary contractions of the neck muscles, resulting in abnormal or repetitive movements and postures.1 Blepharospasm is also a focal dystonia, characterized by excessive involuntary contractions of the muscles surrounding the eye.2 Both conditions significantly impact patients’ quality of life. The approval by MHLW is based on Phase III clinic
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