Prudential Financial confirms $2.35 bln buy of Assurance IQ

Prudential Financial said Sept. 5 that it agreed to buy Assurance IQ Inc for $2.35 billion. The deal includes an additional earnout of up to $1.15 billion in cash and equity, contingent upon Assurance achieving multi-year growth objectives. Assurance, of Bellevue, Washington, is an insurtech that uses data science and machine learning to sell life, health, Medigap and auto policies online to customers. FT Partners provided financial advice to Assurance.

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