wefox Completes Sale of Italian Subsidiaries to J.C. Flowers & Co.

Insurtech firm wefox has entered into an agreement to sell its Italian subsidiaries, wefox MGA S.r.l. and wefox Services Italy S.r.l., to J.C. Flowers & Co., a prominent global investment firm specializing in financial services. The finalization of the transaction is anticipated by the end of the second quarter of 2025, pending customary conditions. This divestment is part of wefox's wider restructuring strategy to focus on markets with profitable operations of substantial size. The deal, however, will not disrupt wefox’s ongoing business activities in Italy, and service delivery to current clients and partners is expected to remain stable. This sale further signifies the completion of wefox’s strategic restructuring phase, following the divestment of its Liechtenstein-based insurance arm in late 2024. CEO Joachim Mller, with the backing of investors, will now concentrate on reinforcing wefox’s core business and ensuring its future financial stability.