Insurtech company wefox to offload Italian businesses to J.C. Flowers

GlobalData

Wed, May 14, 2025, 4:09 AM 1 min read

Insurtech company wefox has entered into an agreement to divest its Italian entities, wefox MGA and wefox Services Italy, to funds managed by private equity firm J.C. Flowers & Co.

Financial specifics of the deal were not shared.

The subsidiaries primarily focus on affinity distribution, with a focus on motor insurance.

This transaction is part of wefox's broader strategy to achieve additional “financial flexibility” and marks the conclusion of its restructuring.

Deal completion is anticipated by the end of the second quarter of 2025 (Q2 2025), contingent on the fulfilment of standard closing conditions.

The sale allows wefox's management team, led by CEO Joachim Müller, to concentrate on developing the core business and secure “sustainable financing”.

The operational activities of the Italian companies will continue as usual, with wefox customers and business partners in Italy maintaining their existing contacts for administration services and claims support.

The disposal of the Italian subsidiaries follows a series of decisions by wefox designed to streamline its business model.

In January, wefox Insurance agreed to sell its run-off portfolio to DARAG, which included motor damage and third-party liability, private liability, and property business across Germany, Italy and Switzerland.

Furthermore, in August last year, wefox Group revealed its exit from the German insurance market by selling assona to Ecclesia Group and transferring its insurance brokerage operations to IWV Versicherungsservice through the sale of a subsidiary.

"Insurtech company wefox to offload Italian businesses to J.C. Flowers " was originally created and published by Life Insurance International, a GlobalData owned brand.

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