Hannover Re to acquire Swiss Re subsidiary iptiQ's Australian life business

Hannover Life Re of Australasia, a member of the Hannover Re Group, is to acquire iptiQ's direct life insurance portfolio from Swiss Re Life & Health Australia.

The transaction marks iptiQ's complete exit from the Asia-Pacific region. It is also part of Swiss Re's strategy to gradually withdraw from iptiQ.

In November 2024, the Zurich-based reinsurer signed an agreement with Allianz Direct to sell iptiQ's non-life business in several European markets.

Founded in 2014 by Swiss Re, iptiQ is a digital insurance platform that, in partnership with other insurers, brokers and banks, offers non-life, life and health insurance products using the business-to-business-to-consumer (B2B2C) business model.