Leocare acquired by Belfius

In June 2026, Belfius Insurance, a subsidiary of the Belgian Belfius Group, completed the acquisition of 100% of Insurlytech's share capital, the parent company of French insurtech firm Leocare. The all-cash transaction marks the exit of key financial investors, including Eight Roads, Felix Capital, Daphni, and Ventech, which had invested in the company through various funding rounds between 2021 and 2022. The deal follows several years of rapid growth for Leocare, with its user base expanding from approximately 60,000 to over 1.3 million customers. This momentum enabled the company's financial shareholders and management to initiate a competitive sale process to identify a strategic partner that could support the next phase of the business's development. Belfius emerged as the successful bidder due to its commitment to making Leocare the flagship platform for its European digital insurance expansion. For Belfius Insurance, this acquisition represents its first foray outside of Belgium and a significant milestone in its internationalization strategy. The group immediately gains access to the French insurance market, one of the largest in Europe, while leveraging Leocare's technological expertise, distribution capabilities, and brand reputation. The transaction is also expected to create synergies in areas such as data management, risk pricing, product development, and process automation in insurance.