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
Cross-Border Private Credit Set to Surge, But Operational Complexity Threatens Momentum, CSC Finds4.12.2025 15:30:00 EET | Press release
Cross-border private credit transactions are poised for strong growth, yet operational complexity is emerging as a critical hurdle. According to CSC, the leading provider of business administration and compliance solutions, an overwhelming 92% of limited partners (LPs) express concern over the complexity of these deals. Published in CSC’s latest report, Private Credit 2025: Global Strategies for a $1.5 Trillion Market, the findings highlight a growing disconnect between investors and fund managers as private credit continues its rapid international expansion. 1 While both LPs and general partners (GPs) remain optimistic about the growth of cross-border private credit, they diverge sharply when it comes to operational readiness. Nearly eight in 10 GPs (79%) anticipate growth in the sector over the next three years, with more than half (51%) expecting a significant acceleration. LPs, however, are increasingly cautious—40% reported turning down multiple fund or investment opportunities la
Pace selected by Prudential Financial to help automate its insurance operations with agentic AI4.12.2025 15:15:00 EET | Press release
Pace, the agentic workforce for insurance, was chosen by Prudential’s Individual Life Insurance (ILI) business to help simplify and improve its service delivery. Pace’s AI-powered agents are now streamlining policy servicing and supporting quality assurance efforts within Prudential’s ILI business. The first set of automated systems is now live taking on thousands of hours of work. “Our work with Prudential is an example of how AI can be used as a strategic advantage,” said Pace CEO Jamie Cuffe. “We’re thrilled to support their exceptional team with AI agents in production today that deliver best-in-class accuracy and speed at significant scale.” This multi-year agreement between Pace and Prudential’s ILI business began as a pilot and quickly moved to full production after demonstrating clear improvements in speed and operational efficiency. “We’ve taken a step forward on our journey to modernize the customer acquisition process,” said Sara Atkinson, vice president of customer acquisit
Redefining Acromegaly Care: First Patient Randomized in Debiopharm’s Phase III OXTEND-03™ Trial of 3-Month Debio 4126 Treatment4.12.2025 15:00:00 EET | Press release
Debiopharm (www.debiopharm.com), a privately-owned, Swiss-based biopharmaceutical company committed to establishing tomorrow’s standards of care in oncology and rare diseases, today announced that the first patient has been randomized in the OXTEND-03™ clinical trial. This pivotal Phase III trial is designed to evaluate the efficacy and safety of Debio 4126, a novel long-acting octreotide formulation and the first potential 3-month somatostatin analogue (SSA), in adults with acromegaly who are currently maintained on somatostatin analogs. OXTEND-03™ is a global trial spanning approximately 75 sites across 21 countries, aiming to enroll around 120 patients. The primary goal of the trial is to confirm Debio 4126’s ability to maintain biochemical control of the disease while significantly reducing the patient’s annual treatment burden from 12 injections to just 4. This shift is expected to enhance patient convenience, improve long-term adherence, and potentially decrease healthcare resour
Visa Launches Global Art Collection to Elevate Creators and Celebrate the FIFA World Cup 26™4.12.2025 15:00:00 EET | Press release
Visa today unveiled the first five pieces in its first-ever global art collection celebrating the cultural energy of the FIFA World Cup 26™. Featuring more than twenty artists from six continents, the collection reflects Visa’s belief that creativity drives commerce—and that today’s creators are the entrepreneurs shaping communities and culture around the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204080105/en/ Darien Birks (Global) Visa debuted the first five pieces in the collection at an exclusive Miami showcase, “The Art of the Draw”, hosted by multidisciplinary creator KidSuper. The showcase featured the works of artists Darien Birks, Nathan Walker, Cesar Canseco, Ivan Roque, and Rafael Mayani that celebrate the culture and traditions of each host country and host city Miami. The full collection will be unveiled globally ahead of next summer’s tournament. Commerce Meets Culture Visa will collaborate with J
Parse Biosciences Launches Evercode Whole Blood Fixation4.12.2025 15:00:00 EET | Press release
Parse Biosciences, a leading provider of accessible and scalable single cell sequencing solutions, today announced the launch of Evercode™ Whole Blood Fixation, a new kit that enables immediate fixation of whole blood directly at the point of collection. The technology eliminates the need for on-site PBMC isolation, specialized equipment, or trained personnel, allowing translational hematology and pharmaceutical research teams to seamlessly collect blood samples in real-world clinical settings for downstream single cell analysis. Traditional single cell RNA profiling workflows done in a translational setting require a compromise between processing fresh samples, which degrade rapidly and demand skilled handling, and using fixation approaches that capture only a partial transcriptome and cannot provide paired TCR sequences. Fresh PBMC isolation also requires complex workflows and specialized reagents. Evercode Whole Blood Fixation overcomes these limitations, preserving the comprehensiv
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