Fidelidade acquires 70% of Insurtech Prosperity

The insurer Fidelidade has announced that it has closed a deal to acquire 70% of Insurtech Prosperity Group which operates in the German and Swiss markets.

The amount of cash involved in the deal has not been revealed, but the Chinese-owned Portuguese insurer (it is owned by Fosun) said that the deal would improve the company’s offer in savings insurance. The completion of the deal is now dependent on the approval of the relevant supervisory authorities.