Zurich invests in Hungarian digital insurer Ominimo [Yahoo! Finance]
ZURICH INS GROUP S/ADR (ZURVY)
NASDAQ:AMEX Investor Relations:
zurich.com/en/investor-relations
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Source: Yahoo! Finance
The specific financial terms of Zurich's investment were not disclosed. Zurich also joins Ominimo as a distribution partner and minority shareholder. The partnership is expected to support Ominimo's focus on leveraging data science and software engineering to develop its car insurance offering. In its first year of operations, Hungarian digital insurer Ominimo is said to have sold more than 300,000 policies and achieved a claims ratio below the national average. Zurich Insurance will act as the risk carrier for Ominimo, which will operate as a managing general agent (MGA). Zurich Group Germany's carrier, DA Direkt, and Ominimo will jointly launch motor insurance products for retail customers in Poland in the second quarter of 2025 (Q2 2025). Following this, Ominimo plans to expand to Sweden and the Netherlands in Q3 2025, with entry into 15 additional EU markets over the next three years. DA Direkt CEO and Zurich Germany digital business and partnerships head Peter Stoc
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