Pacific Prime Acquires CXA Group's Brokerages to Become the 3rd Largest Employee Benefits Broker in Singapore and Hong Kong
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/.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210208005303/en/
Contact information
Stephen Ho, Marketing Director - Pacific Prime and Kwiksure,
+852 3589 0508
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
Modon Holding Announces a Strategic Investment in Wellington Lifestyle Partners, Expanding Its Global Portfolio in Luxury Lifestyle Destination Development26.11.2025 12:15:00 EET | Press release
Abu Dhabi-based Modon Holding P.S.C (“Modon”) today announced a strategic investment in Wellington Lifestyle Partners (“WLP”), joining a consortium of existing investors in the company. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251125937208/en/ Aerial shot of Wellington International (Photo: AETOSWire) Modon’s investment will support the long-term development of Wellington International equestrian showgrounds and deliver a landmark ultra-luxury real estate development featuring high-end residences, a boutique hotel, a commercial marketplace and a championship golf course located in Wellington, Florida – a global icon of equestrian sport. This investment marks Modon’s first direct investment in an equestrian led development in the United States, complementing its existing global portfolio, and reinforcing its strategy to partner with leading international organisations in expanding its presence across ultra-luxury destin
Epassi Announces Leadership Transition26.11.2025 12:00:00 EET | Press release
Epassi Group, a European leader in digital employee benefits technology, today announced that Nickyl Raithatha will join as Chief Executive Officer. Nickyl will assume the role in 2026. Pekka Rantala, who has served as CEO since September 2019, will remain on the Board as Non-Executive Chair. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251126015983/en/ Pekka Rantala and Nickyl Raithatha Over the past six years, Epassi Group has evolved from a Nordic success story into one of Europe’s leading SaaS employee benefits and wellbeing platforms. The company has expanded both its geographic footprint as well as its product portfolio, driven by a powerful combination of strong organic growth and strategic acquisitions, with backing from TA Associates and Warburg Pincus. Today it has a presence in ten countries and a team of 1,000 people. With net revenue expected to exceed €200 million in 2025, Epassi is redefining employee engage
Enerin raises €15 million Series A to industrialise modular high-temperature heat pumps for global industry26.11.2025 11:00:00 EET | Press release
Enerin, a technology leader in high-temperature heat pumps, has raised €15 million (NOK 180 million) in a Series A led by Climentum Capital, The Footprint Firm, Johnson Controls and Move Energy, with participation from PSV Hafnium and Momentum. “This investment marks our shift from pioneering to full industrialisation, bringing proven high-temperature technology from Norway to industries worldwide,” said Arne Høeg, Founder and CEO of Enerin. “Industrial companies are ready to decarbonise high-temperature heat, but the mass market has lacked simple, profitable solutions that fit everyday operations.” Replacing fossil-fuelled industrial boilers — responsible for nearly 20% of global CO₂ emissions — remains one of the toughest challenges in the energy transition, largely because conventional heat pumps can’t cope with the sector’s highly variable process conditions and high temperatures. Enerin’s modular, flexible and standardised system removes such barriers by adapting automatically to
IQM to Invest Over €40 Million to Expand Finland Production Facility, Accelerate Innovation and Fuel Growth26.11.2025 10:49:00 EET | Press release
IQM Quantum Computers, a global leader in superconducting quantum computers, today announced over €40 million investment to expand its state-of-the-art production facility in Finland. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251126943986/en/ This strategic expansion will accelerate the development, fabrication and testing of advanced quantum processing units and the assembly of quantum computers, paving the way for scalable, error-corrected quantum systems that will power the next era of computing. The expansion aligns with the company’s recent Series B fundraise of over $300 million. The facility, which will spread over 8,000 square meters, will expand the company’s cleanroom area quantum data centre. It will also double its assembly line capacity, enabling to produce over 30 full-stack quantum computers per year, helping to meet the growing demand for its systems and support research innovation and development activi
Thredd Powers Successful Migration of BigPay’s Card Portfolio to Next-Gen Platform26.11.2025 10:00:00 EET | Press release
Thredd, the leading next-generation global payments processor, has successfully migrated BigPay’s virtual and physical card portfolio from its previous, legacy processor to Thredd’s next-generation platform, underscoring Thredd’s leadership in complex card portfolio migrations. The migration project, one of several in recent years, included over 2.5 million cards and highlights Thredd’s unique combination of deep migration experience, robust processes, and advanced technology—qualities increasingly critical as the industry faces a wave of modernisation and replatforming. This achievement comes at a pivotal moment for the industry. Industry analysts estimate that retail banks failing to modernise could see 10% to 15% of their payments revenue at risk annually as legacy platforms struggle to keep pace with demands for hyperpersonalization, digital experiences, faster time-to-market, and operational efficiencies. With more than 100 million cards per year expected to move to modern platfor
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