From Startup to AXA’s €1B Prize: The Rise of Prima Assicurazioni

AXA 🇫🇷 acquired 51% of Prima for €500M, valuing it >€1B 🇮🇹 🦄—putting Prima above the €1B mark. The company did over €104M EBITDA in 2024.

Founded in 2015 by Alberto Genovese (ex-Facile.it) and George Ottathycal Kuruvilla. Unlike Facile, Prima is not a comparison site but a fully digital insurer/MGA: it sells policies directly and owns the customer relationship, while underwriting is provided by partners (Great Lakes/Munich Re, iptiQ/Swiss Re, Triglav; Alwyn/Arch in the UK).

Prima wrote ~€1.3B in premiums in 2024, has 4M+ customers across Italy, Spain, and the UK, and did €104M EBITDA 💰