bolttech announced it has completed the acquisition of a majority shareholding in Axle Asia, an established insurance broker in Indonesia.
Axle Asia will become a subsidiary of bolttech and be subsequently rebranded. Srinath Narasimhan, General Manager for bolttech in Indonesia, will oversee the growth of bolttech in Indonesia with the addition of Axle Asia.
bolttech said the addition of Axle Asia will accelerate the deployment of its insurance exchange capabilities and complement its existing presence as a device protection provider in Indonesia.
With a global footprint of 30 markets across three continents, North America, Asia, and Europe, bolttech has more than 800 distribution partners and 200 insurers in its network and is licensed in 36 international jurisdictions.