Insurtech company bolttech has acquired a majority share of Indonesian insurance broker Axle Asia while Apeiron Bioenergy has secured an equity investment from Proterra Investment Partners Asia.
bolttech buys into Axle Asia
Singapore-based insurtech company bolttech announced on Thursday that it has completed the acquisition of a majority shareholding in Indonesian insurance broker Axle Asia, which will become a subsidiary of bolttech and rebranded subsequently.
Founded in 2020, bolttech’s insurance exchange platform currently quotes more than $50 billion in premiums worldwide with a footprint in 30 markets across three continents North America, Asia and Europe.
Axle Asia, established in 2008, provides general insurance programmes and employee benefit solutions, among others, to clients from a broad cross-section of industries in Indonesia.
In February, bolttech also acquired AVA Insurance in Singapore, an insurance intermediary and specialist broker.
Proterra invests in Apeiron Bioenergy
Apeiron Bioenergy, a bioenergy solutions provider that supplies from feedstock to end products, entered into an equity investment agreement with Proterra Investment Partners Asia, according to an announcement on Thursday.
The exposure to biofuel is the first of its kind from Proterra Investment Partners Asia, which is a specialist private equity manager focused exclusively on investing in the Asian food sector.
Over the past 15 years, Apeiron Bioenergy has built its presence in over 10 countries and offset an estimated 1.5 million tonnes in carbon emissions.
Headquartered in Singapore and founded in 2007, the company closed a separate equity financing round from Mitsui Chemicals earlier in August this year.