Warburg Pincus to invest $350 million to set up Southeast Asia digital insurance firm By Reuters

SINGAPORE (Reuters) – Warburg Pincus LCC is investing $350 million to set up a Southeast Asian digital general insurance platform called Oona Insurance, marking the U.S-based private equity firm’s largest investment in the insurance sector in Asia.

Warburg Pincus is partnering with Abhishek Bhatia, a former group CEO of Asian insurance company FWD Group’s new business models unit, to set up the new business, the buyout firm said in a statement on Thursday.