SEB buys stake in Nordic InsurTech Hedvig
Summary
SEB is entering a strategic partnership with the insurance provider Hedvig, a leading Nordic insurtech-company within property insurance for private individuals.As part of this, SEB Venture Capital is making a strategic investment in Hedvig in conjunction with a financing round led by Adelis Equity.Hedvigs customer-friendly and digital insurance offer means that we faster gain the possibility to offer our customers insurance services in a smooth and easy way, says Jonas S\xf6derberg, head of SEBs division Private & Corporate Customers. The fact that we also make an investment in the company is natural, as we see big opportunities in a joint journey with Hedvig and the new main owner Adelis Equity.The partnership is a natural next step following the strategic partnership that SEB entered last year with the insurtech-company Insurely, which is digitalizing the insurance industry with the help of open data and innovative technology.That we now enter into a strategic partnership with Hedvig is completely in line with our strategy of developing the financial ecosystem so that our customers can manage their banking and insurance needs in a simple and digital way, says Stefan Stign\xe4s, Head of Exploratory Banking & Strategic Partnerships at SEB. Hedvigs digital insurance offer is a very good match with the new infrastructure that we have established through the partnership with Insurely.Hedvig today insures more than 130,000 people, with an annual premium volume of about 200 million Swedish kronor (17,6 million euros). SEB Venture Capital and Nicklas Stor\xe5kers are also participating in the round and will both become members of Hedvigs board. The transaction is subject to approval from the Swedish Financial Supervisory Authority and is expected to be completed during the coming months.With its modern, technological platform, smooth customer process and efficient insurance solutions, Hedvig has in a relatively short period of time managed to gain a prominent position in the Swedish insurance market and received high customer ratings, says Fredrik Ljungblad, Investment Manager at SEB Venture Capital.