Founded in 2016 under the name Dextra Versicherungen, Simpego Versicherungen AG has become an established online insurer, according to a statement released on Wednesday, with gross written premiums of 55,27 million francs. Pax and the Bayerische insurance group played a leading role as lead investors in building and establishing Simpego. Over time, Pax gradually increased its stake and most recently held a 61,33 percent majority interest.

«By transferring Simpego to Visana, we are opening a new chapter in the development of this forward-looking online insurer. It was important for us to find a solution together with Pax that would fully unlock Simpego’s potential. We are delighted to have helped shape this success story from the very beginning,» said Martin Gräfer, member of the Bayerische management board.

All 75 Jobs to Be Retained

According to the statement, nothing will change for customers. Existing insurance policies and products will continue unchanged. The acquisition also ensures continuity while offering Simpego employees new opportunities. All around 75 jobs will be retained.

The parties agreed not to disclose further details of the transaction, including the purchase price.

«This next step gives Simpego an even stronger foundation for expanding its position in the property and casualty insurance market. The sale is therefore also consistent with Pax’s strategy of achieving profitable growth in its core pensions business while operating its online business exclusively under the Pax brand,» said Pax CEO Peter Kappeler.

Against this backdrop, Pax had already fully integrated its subsidiary Creadi, founded in 2016, at the end of 2023, incorporating its EmmaLife pension platform into Pax’s own online offering.