ROX Fairness Companions, a UK based mostly personal fairness firm, has acquired SilverBridge. The South African monetary companies expertise supplier has change into the primary subsidiary within the newly established Alula Applied sciences group offering options to the insurance coverage and well being industries.
As an organisation who has demonstrated its skill to function in complicated markets, ROX has created the Alula Applied sciences Group and can present SilverBridge with entry to capital, expertise, and networks to additional strengthen its place. ROX’s overarching speculation is that well being and expertise are on the forefront of main disruption in delivering improved high quality of life at a decrease value to a broader viewers by way of revolutionary expertise. The SilverBridge acquisition is a key a part of delivering to this speculation.
“Turning into a part of Alula will help SilverBridge to strengthen our enterprise to the advantage of our purchasers and folks. It additionally helps us execute our worldwide technique extra successfully and displays on how the extent of innovation in South African expertise companies is attracting international curiosity,” says Lee Kuyper, Chief Government Officer at SilverBridge and Alula Insurance coverage Applied sciences.
In line with Kuyper, although native companies have sturdy capabilities and expertise, quite a lot of expertise is undervalued particularly round monetary companies.
“Now we have a mature monetary companies sector that’s globally aggressive. SilverBridge has gone by way of an intensive course of the place the corporate benchmarked itself in opposition to worldwide competitors and has discovered that it may well compete with the very best on the planet. As a part of Alula, we now have the chance to develop our foothold within the African market and increase into new international markets. The acquisition doesn’t change our technique, as an alternative, it empowers us to execute and speed up on it,” provides Kuyper.
Along with rising and internationalising the SilverBridge enterprise, Alula will look to accumulate different related firms and applied sciences to allow it to supply extra worth to purchasers within the well being and insurance coverage sectors.
The SilverBridge product suite will stay the muse of what it goals to do. With a concentrate on the modernisation of life insurance coverage and pension fund administration and the clever automation of underwriting and claims resolution making.
“Africa, and exploring the enterprise potential throughout the continent, will stay a key a part of our focus sooner or later. SilverBridge, by way of the Alula model, may also look to capitalise on the alternatives within the UK, the fourth largest insurance coverage market on the planet. This is sensible because the South African insurance coverage sector has many similarities to the UK,” concludes Kuyper.