Zurich Insurance Group (Zurich) successfully completed the acquisition of Toronto-based global cyber insurance and risk management insurtech, BOXX Insurance Inc. (BOXX), to provide retail and SME cyber insurance and services globally, Zurich said in its press release.

According to Zurich, BOXX will be integrated into Zurich Global Ventures (ZGV), accelerating its ambition to grow its cyber offering for retail and SME customers and expand the range of value-adding solutions with a global reach. BOXX will continue to operate under its brand. In addition to operating its own global businesses across Life Protection, Employee Benefits, and Travel, ZGV aims to deliver holistic, value-adding, and digital-first products and services - including those offered through BOXX - spanning prevention, protection, and recovery, and tailored to customers across retail and B2B2E.

“We have had a very successful collaboration with BOXX since 2021, and I am thrilled to strengthen our partnership by welcoming BOXX to Zurich Global Ventures. BOXX’s digital-first, service-led approach will help us further enhance customer engagement and provide integrated solutions that make people’s everyday life easier”, commented Cara Morton, CEO Zurich Global Ventures.

“Becoming part of Zurich provides us with the resources and global reach to accelerate our mission", said Vishal Kundi, BOXX Insurance CEO and Co-Founder. "Combining the strengths of both organizations, will enable us to provide even more customers with the protection they need to navigate the digital world with confidence", Vishal Kundi added.