Swiss Re’s iptiQ signs agreement to sell Australian business to Hannover Re

Jef Van In, CEO of iptiQ, has announced the signing of an agreement to sell iptiQ’s Australian business to Hannover Re, pending regulatory approvals.

iptiQ, a digital B2B2C insurance company powered by Swiss Re, is a provider of re/insurance and risk transfer solutions.

This agreement marks iptiQ’s complete exit from the APAC region and represents another milestone in Swiss Re’s strategy to gradually withdraw from the iptiQ business.

The announcement follows Swiss Re’s agreement to sell iptiQ’s European P&C business to Allianz Direct, the pan-European online insurer of Allianz Group, in November 2024.

Jef Van In commented, “Congratulations to our teams for their hard work and best wishes to Hannover Re on their new acquisition.”

In other news, Swiss Re recently agreed to sell all of its 11,647,217 common shares in Canada’s Definity Financial Corp. for approximately CAD 655 million.

The common shares, which represented approximately 10.05% of the issued and outstanding common shares of Definity as of March 17th, 2025, are being sold by Swiss Re Investment Holdings Company Ltd.

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