Prima Assicurazioni Joins Axa Group As Global Insurer Secures 51% Stake

The deal is valued at €500 million. As part of the transaction, existing investors Blackstone, Goldman Sachs Alternatives, and Carlyle’s Global Credit platform will fully exit, while Neurone will retain a significant shareholding in Prima.

“This is an important milestone which marks a significant recognition of the work carried out so far by the entire Prima Assicurazioni team and of the quality of what Prima has built over its first 10 years of life,” said George Ottathycal, CEO of Prima Assicurazioni.

Founded in 2015, Prima Assicurazioni positions itself as Italy’s leading online motor insurer, having fully digitized the insurance value chain through its proprietary technology and advanced data analytics.

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The company has since broadened its product portfolio to include Home and Family insurance, aiming to become a comprehensive insurance platform.

Prima serves 4.2 million customers and reported €1.3 billion in Group Gross Written Premiums (€1.2 billion from Italy), reflecting 47% year-over-year growth (46% in Italy). The company also recorded a Group EBITDA of €104 million.

With a team of over 1,200 employees, Prima operates from its headquarters in Milan, with additional offices in Rome, London, and Madrid, and maintains a network of more than 1,500 multi-tied agents across Italy.

“We are delighted to become part of the Axa Group. Axa strongly believes in our strategic plan and will provide assets and expertise which will enable Prima to further unlock its potential, leveraging expertise with a leading global insurance Group. Prima contributes a portfolio of nearly 5 million customers and deep expertise in technology development, pricing, and claims management – all key elements that have enabled us to become one of the leading motor insurance players in Italy,” added Ottathycal.

Axa Group is set to become the majority shareholder and strategic partner of Prima, supporting the company in accelerating its growth plans. The deal will also allow Axa to strengthen its footprint in the Italian market while leveraging Prima’s cutting-edge technology.

In a parallel move, Prima has launched its own direct online sales channel in Spain—a key milestone in its expansion strategy. Until now, the InsurTech offered motor insurance solely through digital comparison platforms like Rastreator, Acierto, and Check24. With the new platform, Spanish customers can now purchase policies directly from Prima’s website.

The company stated that the launch addresses growing demand for more streamlined, transparent, and user-friendly insurance experiences. Over the past two years, Prima has tripled its premium volume in Spain to €20 million and aims to more than double it to €44 million by 2025.

About Prima

Founded in 2015, Prima is a leading European insurtech with 4.2M customers, €1.3B in premiums, and 1,000+ employees. Backed by global investors, it pioneered digital motor insurance in Italy and now offers home and family coverage, expanding into the UK and Spain with advanced tech and customer-centric solutions.