Income Insurance Transfers HIVE Platform to EFGH

Singapore, Singapore - Income Insurance Limited has announced the successful transfer of its digital insurance platform, HIVE, to Embed Financial Group Holdings (EFGH). This strategic business transfer aims to position HIVE as a global asset within EFGH's broader digital financial infrastructure, extending its reach beyond Singapore and Southeast Asia.

HIVE, which was incubated over the past five years by Income Insurance, functions as an API-first digital infrastructure layer. It connects core insurance systems to various distribution channels, enabling the launch of micro-insurance, subscription-based, and usage-based insurance products at speed and scale. Following the acquisition, the HIVE team will transfer to EFGH to ensure operational continuity.

Transaction Details

• Strategic Integration: HIVE will become a key component of EFGH's technology stack, supporting the integration of financial services into existing customer journeys globally.
• Ongoing Partnership: Income Insurance will continue to utilize the HIVE platform as a customer following the completion of the transfer.
• Employee Transition: Personnel involved in the operation and development of HIVE will join EFGH, maintaining the platform's development momentum.
• Expected Timeline: The business transfer is anticipated to conclude in the third quarter of 2026.

EFGH is currently preparing for a proposed public listing on the New York Stock Exchange (NYSE) following a definitive business combination agreement with a U.S.-listed special purpose acquisition company, with an implied equity value of approximately US$425 million.