Achmea and Fairfax to sell Canadian start-up Onlia

2 April 2024 — Andrei VICTOR
Dutch insurer Achmea and Canada's Fairfax Financial Holdings Limited have reached an agreement on the sale of online insurance agency Onlia to Southampton Financial Inc..

Onlia was founded in 2018 as a joint venture between Achmea and Fairfax (both 50% shareholders). The online IT platform of InShared, Achmea's digital non-life insurer, served as the basis for this. Onlia now has around 24,000 customers and a premium turnover of EUR 44 million with home and car insurance. Southampton will take over the entire customer portfolio, while respecting and continuing the existing contractual agreements regarding Onlia's services to customers.

Southampton Financial is a holding company backed by strategic value-adding investors in the Canadian property and casualty distribution space. It provides strategic guidance and oversight, access to capital, new markets and back-end support services, including a leading-edge insurance technology platform to its portfolio companies, allowing them to focus on organic growth and to develop market leading insurance propositions serving the needs of a variety of consumers. Southampton Financial shareholders are a group of industry veterans, (i.e. insurance companies, MGUs and brokerages) who benefit from an exceptional network and deep operational experience.