WTW Buys Redefind to Boost Access to Crypto, Digital Asset Insurance
Insurance broker WTW announced it has acquisition of Redefind, an end-to-end web-based platform, designed to facilitate access to insurance products for crypto and digital assets.
WTW said this investment reflects its long-term strategy to expand into next-generation protection solutions for clients exposed to digital finance, crypto ecosystems and tokenized asset environments.
Financial details of the transaction were not disclosed.
The proposition launches as a non-custodial, cost-of-recovery insurance solution, intended to support digital asset owners in the event of theft or loss. Coverage is designed to support expenses associated with forensic investigation, asset tracing, and legal recovery of stolen digital assets.
As part of the acquisition, Redefind’s founders, Richard Daws and Connor Edward joined Willis upon completion of the transaction.
The service will initially launch in the UK, with broader market and product expansion planned as capabilities continue to evolve.
“As digital assets continue to move further into the mainstream, demand for credible regulated protection solutions is increasing,” commented Alastair Swift, head of global specialities at Willis.
“Through this investment, WTW is taking a leading position to shape the future of risk transfer and protection in the digital economy,” Swift added.
“We are committed to supporting clients in navigating emerging financial and technology risks and to delivering trusted, regulated solutions backed by our global insurance expertise,” he said.
“We are delighted to have acquired Redefind and welcome its founders to WTW,” according to Anthony Borgman, head of GB Affinity at Willis. “Under Richard’s stewardship the business will continue to evolve with support from WTW’s Affinity practice and for wider distribution.”
About Redefind
Redefind is a proprietary, end-to-end crypto insurance platform enabling individuals and institutions to purchase cryptocurrency and digital asset insurance across all forms of custody. Its enterprise-grade web application uses cryptographic proof of ownership to make previously uninsurable digital assets insurable.
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ASR Agrees to Strategic Investment From PE Firm Vitruvian Partners
Africa Specialty Risks (ASR), the developing markets-focused re/insurance group, announced it has entered into an agreement to receive a strategic investment from London-headquartered Vitruvian Partners, a private equity firm.
Terms of the transaction have not been publicly disclosed.
In partnership with Vitruvian, ASR will continue to realize its mission of enabling sustainable economic development by fulfilling unmet insurance needs. ASR aims to be the reinsurance platform of choice for developing markets by providing additional new speciality lines and solutions, access to global A-rated capacity, advanced technology capabilities, expanded underwriting at Lloyd’s, and geographic expansion outside of Africa and the Middle East.
Founded in 2020, with its first policy issued in 2021, ASR is a leading developing market focused re/insurance group that also operates Syndicate 2454 at Lloyd’s, along with reinsurers in Bermuda and Mauritius.
ASR has doubled its premium base every year since inception, having de-risked over $60 billion of risks throughout over 90 countries in developing markets, while providing policies in all 54 African countries, all of the Middle East, select CIS states, the Indian subcontinent and South East Asia. The group is forecast to write approximately $500 million in gross written premiums (GWP) in 2026.
ASR primarily writes facultative reinsurance across property, casualty and specialty classes, as well as direct insurance, especially political risk and trade credit, where it is a leader at de-risking investment into Africa.
The group’s distribution model allows it to access risks both on the ground in-country as well as in global wholesale markets. The company also writes treaty reinsurance and provides parametric and captive solutions for corporate clients. ASR24-7, an automated underwriting platform, was launched in 2025 and offers automatic quote and binding capabilities for standardized risks.
The company has offices in London, Bermuda, Mauritius, Dubai, Morocco and South Africa, with new hubs in East and West Africa soon to open alongside offices in India, Asia and Latin America.
ASR was founded by Mikir Shah in 2020, and since inception has been majority owned by Helios Investment Partners, the largest Africa-focused private investment firm.
“I’m delighted to welcome Vitruvian Partners as our new lead investor. Since launch in 2020, ASR has enjoyed a significant growth trajectory, and this new partnership will help us realise our ambition to be the go-to reinsurer for developing markets,” commented Mikir Shah, chief executive officer, Africa Specialty Risks, in a statement.
“I want to thank Helios Investment Partners who have been a supportive partner for ASR since inception and have helped us realize the fantastic growth we’ve achieved in five years,” Shah added.
“I look forward to working closely with Vitruvian and continuing our next phase of growth as we continue to enable sustainable economic development by fulfilling unmet insurance needs,” he said.
“We are delighted to be partnering with Mikir and the broader ASR team, who have built an impressive business to date by solving a critical and increasing re/insurance gap in developing markets,” according to Tassilo Arnhold, partner at Vitruvian. “We look forward to working with ASR to further expand across various product lines and across developing market regions globally.”
“ASR exemplifies Helios’ strategy of partnering with outstanding founders to build market-leading platforms that address critical gaps in African and developing market ecosystems,” said Jamie Hollins, partner at Helios Investment Partners.
“In just five years, Mikir and the ASR team have scaled the business at an exceptional pace, combining underwriting discipline, technological innovation and global reach,” Hollins added.
“We are proud to have supported ASR from launch and are confident that Vitruvian’s partnership will accelerate the company’s ambition to scale internationally and broaden its solutions for clients across developing markets.”
The transaction is expected to close later this year, subject to regulatory approvals and other customary closing conditions.
Topics
Mergers & Acquisitions
