Insurtech firm CXA to sell brokerage unit as it doubles down on SaaS business

Insurtech startup CXA Group announced plans to restructure its business to focus “solely” on its enterprise software-as-a-service (SaaS) business.

The Singapore-headquartered company is set to sell its brokerage business in the city-state and in Hong Kong to global employee benefits broker Pacific Prime. However, CXA did not disclose the sale amount.