Fermion invests in InsurTech Ancileo

Pickering Pacific is delighted to announce that it acted as the exclusive financial advisor to the shareholders of Ancileo on the sale of a minority stake to Fermion.

By combining resources, Ancileo and Fermion are equipped to help insurers improve and modernise their models of insurance distribution and to build a global insurance ecosystem in travel and banking. The investment will allow Ancileo to build up its team, improve its travel insurance platform and leverage synergies by gaining access to Fermion’s 230 clients in the banking industry.

Ancileo is a Singapore-based InsurTech company. Its customisable technology solutions enable omnichannel distribution, connecting insurers, reinsurers, brokers, and affinity partners. The company’s travel insurance e-commerce distribution partners range from hotels to TravelTech startups, airlines, travel agents, and financial institutions.

Fermion is a member of the SGX-listed Silverlake Axis group of companies. Headquartered in Singapore, it builds end-to-end digital engagement solutions powered by data and ecosystems and operates from locations across Southeast Asia, Hong Kong, Japan, and the UAE.

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