Thai-based Sunday acquires Indonesian insurer

Sunday now holds a 99% stake in PT KSK Insurance.

Sunday Ins Holding completed its acquisition of PT KSK Insurance Indonesia in January after approval from Indonesia's financial services authority.

This makes Sunday one of the largest fully licensed insurtech groups in the region's two largest general insurance markets, with revenue exceeding $100m, according to the press release.

Sunday initially launched in Indonesia in 2022 as a registered insurtech and licensed broker.

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Sunday's acquisition of a 99% stake in PT KSK Insurance Indonesia aims to foster growth in personal lines through product innovation and new alternative channels.

“This partnership signifies our deep commitment in Indonesia and mission to be a leading insurtech group in this region. Our immediate focus will be to extend our product solutions to all our corporate clients, partners, agents and brokers in our ecosystem to serve the growing middle-income classes with better claim, lifestyle and risk prevention services.” CEO and Co-Founder Cindy Kua said in the press release.

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