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Refinancing sees the insurer, which also owns Complete Cover Group, move back into profit in 2020.

Profits slip but income is steady and operating profit almost doubles as report flags the business’s £50m Abacai launch and acquisition of broker Dayinsure.

Insurance Post Insurance Post staff Deal value: Undisclosed Abacai Group, the insurtech recently formed by Mark Wilson and Sun Capital Partners, has announced the acquisition of Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content. To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe You are currently unable to print this content. Please contact [email protected] to find out more. You are current...

Insurance Age Subscriptions Subscriptions Print this page   Abacai Group, launched last month by former Aviva CEO Mark Wilson and Sun Capital Partners, has confirmed it is set to buy motor provider Dayinsure in a deal backed by CVC Credit. Dayinsure was founded in 2005, with Aviva as its sole underwriter, and specialises in temporary cover for cars, vans, motorhomes, learner drivers and business car insurance. Abacai detailed that the business is also strong in IT and data analytics. Dayinsure is the group’s first acquisition and Abacai explained it Only users who have a pai...

Ex-Aviva boss Mark Wilson to lead insurtech venture after merger with Complete Cover Group Print this page   Former Aviva boss Mark Wilson has teamed up with private equity firm Sun Capital Partners to launch a new insurtech venture, Abacai Holdings. According to a statement, Abacai is to merge with Complete Cover Group (CCG), which has been owned by Sun Capital since early 2020. The business explained that Abacai will invest an initial £50m in the creation of an entirely new AI-based insurtech platform. It also revealed plans to expand its footprint and enter additional markets...