Chrysalis Investments has upped its holding in European insurtech company wefox with a €3m contribution, it said in a stock exchange notice today (17 May).
The insurer has raised around €20m in recent weeks to support its business strategy, after it warned investors it was at risk of insolvency. According to a report from Sky News, wefox could collapse as early as this summer, as it struggles with regulatory and financial challenges, and as a result is looking to offload a number of loss-making operations, particularly its Italian and German divisions. Exits and capital returns potential set to propel Chrysalis beyond continuation vote Chrysalis' investment adviser has been "in discussions" with wefox management and other shareholder...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
