Leading Global Insurtech BOXX Insurance to be Acquired by Zurich

BOXX Insurance Inc. ("BOXX"), a global cyber Insurtech, announced today it has entered into an agreement to be acquired by Zurich Insurance Group (Zurich), a leading global multi-line insurer. BOXX is known as the original all-in-one cyber insurance and protection company, serving customers across five continents. The transaction will see BOXX continue to operate as a standalone entity. "Becoming part of Zurich provides us with the resources and global reach to accelerate our mission," said Vishal Kundi, BOXX Insurance CEO and Co-Founder. "Combining the strengths of both organizations, will enable us to provide even more customers with the protection they need to navigate the digital world with confidence." Cara Morton, CEO Zurich Global Ventures, said: "We have had a very successful collaboration with BOXX since 2021, and I am thrilled to strengthen our partnership by welcoming BOXX to Zurich Global Ventures. BOXX's digital-first, service-led approach will help us further enhance customer engagement and provide integrated solutions that make people's everyday life easier." Launched in 2018, BOXX has rapidly scaled to serve close to one million customers with its innovative suite of Cyberboxx^® products, including:

• Cyberboxx^® Business Edition: All-in-one solution that combines cyber insurance and cyber security services to protect small to medium-sized businesses.
• Cyberboxx^® Home Edition: All-in-one solution that combines cyber insurance and cyber security services to protect households.
• Cyberboxx^® Assist: Comprehensive suite of cyber security tools and services designed to help individuals and businesses predict, prevent and respond to cyber threats.

"Digital usage is so ingrained in our daily lives," added Vishal Kundi. "Our team of BOXXers are constantly exploring new and creative ways to further our mission of building digital resilience for individuals and businesses by integrating innovative cyber coverages and solutions to ensure our customers are protected online," he continued. This acquisition builds upon the recent investments, strategic hires and distribution partnerships with notable brands that BOXX has made, including the launch of Cyberboxx^® Assist, a significant expansion into the US market and the establishment of cyber solutions and services in markets across India, Europe and Australia. Perella Weinberg Partners LP served as financial advisor to BOXX with Osler, Hoskin & Harcourt LLP acting as legal counsel.