WeSure acquires Ayalon

According to Calcalist, Israeli digital insurance company weSure Insurance Company is acquiring a controlling stake in Israeli insurance company Ayalon Insurance for NIS 354 million (~$110 million). WeSure is buying 50.4% of the shares at a NIS 700 million ($216 million) valuation.

Founded in 2018, WeSure initially targeted the Israeli market. Last month, the company announced that it received a license to operate in the state of New Jersey. The license includes the sale of products to both individuals and businesses, and WeSure intends to apply for additional licenses in other states.