Abacai acquires Dayinsure

Abacai Group has acquired Dayinsure for undisclosed financial terms.

The acquired entity offers temporary motor insurance cover for car, van, motorhome and business drivers in the U.K. With its current management team at the helm, Dayinsure will operate as a stand-alone go-to-market business under Abacai.

Abacai, created by former Aviva PLC CEO Mark Wilson and Sun Capital Partners Ltd., will continue to serve the insurance technology underwriting market through Abacai Capital.

CVC Credit, the credit arm of private equity and advisory firm CVC Capital Partners Ltd., became a strategic partner of Abacai, offering a combination of equity and debt financing for the acquisition and the group's future development.