Hiscox to sell DirectAsia

Hiscox announced that it has entered into an agreement to sell DirectAsia, its business operations in Singapore and Thailand predominantly providing motor insurance, to Ignite Thailand Holdings Limited, which owns online insurance broker Roojai.

The transaction is subject to customary conditions and regulatory approvals and is expected to complete by the end of 2023.

Hiscox’s decision to divest follows the company’s previously announced strategic review of the business as part of its continued active portfolio management and disciplined focus on key markets where it sees the greatest opportunities to maximize value for shareholders.