Income Insurance Limited has announced the transfer of its digital insurance platform, HIVE, to Embed Financial Group Holdings Pte Ltd (EFGH), a digital financial infrastructure group based in Singapore. This strategic move, revealed on 18 June 2026, is set to position HIVE within a global embedded finance infrastructure, extending its distribution beyond Singapore and Southeast Asia.
HIVE, developed over five years by Income Insurance, serves as an API-first digital infrastructure that connects core systems to distribution channels. It enables the launch of innovative insurance solutions, such as stackable micro-insurance and subscription-based products, at speed and scale. The platform has been pivotal in forming partnerships with insurers and digital platforms across the region, addressing protection gaps in Southeast Asia.
Andrew Yeo, CEO of Income Insurance, stated, “We believe the time is right for HIVE’s next phase of growth within a global digital ecosystem platform player that is well placed to accelerate growth and expansion to further unlock its full potential.”
Dennis Ng, Executive Chairman of EFGH, highlighted the practical benefits of the acquisition, noting, ““Insurance works best when it is present at the right moment, not searched for after the fact. HIVE was built to make that possible. Bringing it into EFGH’s infrastructure gives us a platform capability that extends what we can offer across the markets and partnerships we are already building.”
Following the transfer, HIVE will integrate into EFGH’s technology stack, supporting enterprises in embedding financial services into customer journeys. The business transfer is expected to conclude in the third quarter of 2026, with Income Insurance continuing to use HIVE as a customer. Existing insurance policy terms for Income Insurance policyholders remain unchanged.
