Explore iptiQ’s strategic divestment with the sale of its Australian business to Hannover Re, a significant move in the reinsurance sector.
Jef Van In, the CEO of iptiQ, has unveiled a significant development with the signing of an agreement to sell iptiQ’s Australian operations to Hannover Re. This transaction is contingent upon receiving the necessary regulatory approvals.
iptiQ, which operates as a digital B2B2C insurance entity under the umbrella of Swiss Re, specializes in providing innovative re/insurance and risk transfer solutions. This sale signifies iptiQ’s full-fledged exit from the APAC region, aligning with Swiss Re’s broader strategy to incrementally retreat from the iptiQ business domain.
This announcement is a follow-up to Swiss Re’s previous decision to divest iptiQ’s European P&C division to Allianz Direct, the online insurance arm of Allianz Group, which was made public in November 2024.
Jef Van In expressed his appreciation, stating, “Congratulations to our dedicated teams for their relentless efforts, and my best wishes go to Hannover Re on acquiring this new venture.”
In related developments, Swiss Re has also entered into an agreement to sell its entire stake of 11,647,217 common shares in Canada’s Definity Financial Corp. The transaction, valued at approximately CAD 655 million, involves shares representing about 10.05% of Definity’s total issued and outstanding common shares as of March 17th, 2025.
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