AXA ahead of Allianz for the acquisition of Prima Assicurazioni

AXA and Allianz remain the two contenders in the running to acquire Prima Assicurazioni, an insurtech company based in Milan, Italy.

According to Italian media, French insurer AXA is currently in the lead for the deal, and exclusive negotiations may begin soon. The transaction is valued at 1.5 billion EUR (1.7 billion USD).

Prima is currently owned by one of its founders Teodoro d'Ambrosio (48%), its top management (8%), Blackstone (27%), Goldman Sachs (15%) and Carlyle (2%).

The project to sell Prima was launched at the end of 2023. It was not until April 2025 that major insurers such as AXA, Allianz, Generali and CNP Assurances began to show an interest in assurtech, following record-breaking results in 2024.

If finalized, this would be AXA's second acquisition in Italy in less than a year. In August 2024, the French group acquired Nobis for 423 million EUR (487.8 million USD).