Insurance giant Zurich to acquire prominent Insurtech firm BOXX Insurance on undisclosed terms.
**Zurich Insurance Group Acquires BOXX Insurance Inc. to Boost Cyber Protection Offerings**
Toronto, Canada - In a strategic move to expand its insurance technology sector and enhance its cyber protection capabilities, Zurich Insurance Group has announced the acquisition of BOXX Insurance Inc., a leading Canadian cyber insurance and risk management insurtech company. The deal, which was brokered by Perella Weinberg Partners LP, was finalized around July 3-4, 2025.
Founded in 2018 and headquartered in Toronto, BOXX Insurance specializes in providing businesses and individuals with services to insure against and defend from cyber threats, using a digital-first, service-led approach. Since its inception, BOXX has rapidly scaled to serve close to one million customers across five continents.
The acquisition places BOXX within Zurich’s platforms business, Zurich Global Ventures. Cara Morton, CEO of Zurich Global Ventures, expressed her excitement about strengthening their partnership with BOXX, stating that BOXX’s approach will help Zurich enhance customer engagement and provide integrated solutions that simplify everyday life for users.
BOXX Insurance offers an innovative suite of Cyberboxx products, including Cyberboxx Business Edition and Cyberboxx Home Edition. The former is an all-in-one solution that combines cyber insurance and cyber security services for small to medium-sized businesses, while the latter caters to households.
In addition to the acquisition, BOXX has been building upon recent investments, strategic hires, and distribution partnerships. These include the launch of Cyberboxx Assist, a comprehensive suite of cyber security tools and services designed to help individuals and businesses predict, prevent, and respond to cyber threats. The company has also made significant expansions into the US market and established cyber solutions and services in markets across India, Europe, and Australia.
A successful collaboration between BOXX and Zurich Global Ventures has existed since 2021. Vishal Kundi, CEO and Co-Founder of BOXX Insurance, stated that becoming part of Zurich will accelerate their mission. He believes the combination of BOXX and Zurich will enable the provision of more protection to customers to navigate the digital world with confidence.
The acquisition of BOXX Insurance by Zurich Insurance Group is part of a broader spree of investments and acquisitions by the Swiss global insurer. In recent times, Zurich has also invested in Icen Risk (UK), acquired American International Group’s global travel insurance business, and taken a stake in India’s Kotak General Insurance Company.
The financial terms of the deal were not publicly disclosed. However, the acquisition underscores Zurich’s commitment to cyber insurance, targeting retail and SME customers globally, reflecting growing market demand for cyber risk solutions. Osler, Hoskin & Harcourt LLP acted as the legal counsel for BOXX Insurance Inc. during the acquisition.
With this acquisition, Zurich Insurance Group continues to position itself as a leader in the cyber insurance market, offering comprehensive and innovative solutions to its customers. The integration of BOXX’s expertise and services into Zurich’s platforms will undoubtedly benefit both parties, as they work together to provide unparalleled protection against the ever-evolving threat of cyber attacks.
- The acquisition of BOXX Insurance Inc., a major player in technology-focused cyber insurance and risk management, by Zurich Insurance Group will most likely be featured on ffnews.com, a leading news platform for technology-related stories.
- Zurich's acquisition of BOXX Insurance, a digital-first, service-led insurtech company, is strategic in its intent to boost Zurich's technology sector and enhance its cyber protection capabilities, a significant move in the evolving landscape of technology-driven cybersecurity solutions.
