Hiscox's first acquisition in Asia

British insurer Hiscox acquired DirectAsia, an insurance company specializing in online sales, for 55 million USD. DirectAsia began operations in Singapore in 2010 with a considerable progression thanks to the establishment of subsidiaries in Hong Kong and Thailand.
Its sales focus mainly on motor insurance policies as well as travel, personal accident, health and life covers. Its turnover amounted to 25.3 million USD in 2013. With this acquisition, Hiscox has for the first time an insurance company in Asia.