Kitra Advisory with AXA in the acquisition of a majority stake in Prima
Description of the deal
Kitra Advisory advised AXA as co-financial advisor, together with Deutsche Bank, in the acquisition by the AXA Group of a 51% stake in Prima Assicurazioni S.p.A. for a total consideration of approximately €538 million, with call/put options for the acquisition of the remaining minority stake by AXA. The transaction was announced on 1 August 2025 and finalised with the closing on 28 November 2025, after receiving all the necessary regulatory authorisations.
Company Profile
Established in 2015 and based in Milan, Prima Assicurazioni is a digital insurance operator active in the direct distribution of insurance products (including car, motorcycle, van, home and family policies). The company has consolidated a leading position in the Italian market with over #5 million customers and, in 2024, approximately €1.2 billion in gross premiums, supported by a proprietary technological platform for pricing and claims management, data analytics and a customer-oriented digital model.
Rationale of the Deal
AXA’s acquisition of 51% of Prima Assicurazioni is part of the French group’s strategy to strengthen its presence in the Italian market and in the direct distribution channel, with the aim of almost doubling Auto business and exploiting Prima’s digital technology and pricing capabilities to accelerate growth. The digital structure and the ability to attract price-sensitive customer segments complement AXA’s traditional offer, expanding market opportunities and consolidating the group’s position in the European context.
