AnaCap portfolio company DSS completed the acquisition of WL Care AB, a Swedish Managing General Agent
AnaCap is pleased to announce that Dansk Sundhedssikring (“DSS”), a fast growing InsurTech portfolio company of AnaCap Financial Partners III, has successfully completed the acquisition of WL Care AB (“WLC”), a Swedish Managing General Agent that provides healthcare insurance.
- The acquisition will accelerate DSS roll-out in Sweden, in line with our investment thesis
- In addition to broking the policies, WLC provides administrative functions such as the issuance of insurance letters, collection of premiums and maintaining the relationship with clients, which will complement and enhance DSS’ current Swedish capabilities
- In Q4 2020 DSS successfully obtained the approval for its insurance licence from the Danish Financial Supervisory Authority. The company will maintain its asset-light characteristics operating in a low capital intensity segment of the insurance market (health insurance) and not bearing interest rate risk
- DSS will continue to manage a growing number of insured lives. Following the successful launch of a major outsourcing agreement with a European pension fund during the height of lockdown, DSS has brought the number of total insured lives to ~330’000