American Financial Group Acquires Verikai
January 18, 2022
American Financial Group (AFG) acquired Verikai, an AI/machine learning insurtech based in San Francisco, effective December 2021 for approximately $120 million in cash. Verikai will continue to operate as a stand-alone company led by CEO Jeff Chen and its predictive-risk tools will be used across AFG’s businesses, including Great American Insurance Group.
- Buyers
- American Financial Group, Inc.
- Targets
- Verikai, Inc.
- Industry
- AI & Machine Learning
- Location
- California, United States
- Transaction Type
- Buyout
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