ABAX Group acquires RA Forsikring AS

Fair Insurance AS, a member of the ABAX Group, a European telematics company, is announcing the acquisition of RA Forsikring AS, a Norwegian insurance broker specializing in the Norwegian taxi sector.

The news follows the recent launch of Fair Insurance in Norway, its second market after entering the Swedish market late last year.

Based in Hamar, RA Forsikring specializes in insurance tailored for the taxi industry. The team has been serving this sector for over 20 years under the Taxi Insurance brand. RA collaborates with Eir Försäkring AB, Duvi Pension, and Matrix Insurance AS to provide insurance solutions.

With Fair’s technology platform and data insights, Fair and RA will create a “highly transparent insurance product” that helps professional drivers actively manage their risk on the road.

“We are delighted to join the ABAX Group – this transaction validates our innovative offering that has pioneered a new standard for the Norwegian taxi industry. This symbiotic InsurTech partnership will significantly increase our addressable market and accelerate our growth. We are excited to benefit from ABAX’s profound data-driven verticalized Tech stack that we’re convinced will drive synergistic innovation and a unique value proposition for our growing customer base, leveraging the power of data and telematics.” – Ole Erik Alnæs, Chairman of RA Forsikring.

“Over the past five years, ABAX has emerged as a leader in utilizing smart mobility data across Europe. Acquiring RA will provide us with an accelerated growth path in Norway, boosting the development of our insurance business Fair and aligning with our strategic goals of sustainable growth and data-driven innovation.”– Emma Dyga, CEO of ABAX Group.

“Integrating RA Forsikring and their Taxi Insurance customer base into Fair Insurance AS allows us to further develop an attractive insurance alternative tailored for the taxi industry, and paves the way for expansion into additional markets and industries.” – Jørgen Johansson Skalleberg, CEO of Fair Insurance AS.