Arch Re targets APAC expansion with marketing firm buyFebruary 18 2020 by Andrew Tjaardstra
Arch Re has agreed to take a majority stake in Sydney-headquartered Precision Marketing Asia Pacific (PMAP).
PMAP provides data driven marketing to firms including insurers, banks, retailers and healthcare firms across Asia Pacific.
The firm, which also has offices in Hong Kong, Jakarta and Tokyo, deploys machine learning, artificial intelligence and data scientists into precision marketing campaigns and has been used by the likes of Sinarmas MSIG Life in Indonesia.
The transaction is expected to help Arch Re with its life and accident and health (A&H) business in the region.
Maamoun Rajeh, chief executive and chairman of Arch Worldwide Reinsurance Group, commented: “Acquiring Precision Marketing Asia Pacific aligns with our strategy of selectively pursuing diverse specialty markets where we can apply our knowledge and expertise.”
Rajeh added: “Precision Marketing is well known for its highly analytical approach to multichannel distribution and product design, and I believe that Arch Re will benefit from its platform as we look to increase our life and A&H presence in Japan and other Asia Pacific markets.”
PMAP will use the capital to expand.
Keith Lowry, chief executive of Precision Marketing Asia Pacific, said: “After many years operating as a private enterprise, the board of Precision Marketing recognises the importance of increased growth capital to accelerate scale in the business and deliver greater value to our distribution partners in Japan.”
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