Company Information

Get to know Abacai Group

Founded in 2021 by Mark Wilson, the former CEO of Aviva, Abacai Group aims to reinvent the insurance industry through the use of advanced AI and data-driven strategies. The company's mission is to provide simpler, fairer, and more accurate insurance products for its customers. Abacai operates both as a direct-to-consumer provider and as a Managing General Agent (MGA). It initially focused on the motor insurance sector, launching its own B2C brand 'Boom'. In 2023, Abacai significantly expanded its portfolio by acquiring SunLife, a leading provider of over-50s life insurance and financial products in the UK, from Phoenix Group.

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Financial InsurancePRIMARY
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Regulated

Recommended

(77 reviews)

Cyprus

2009

(17 years)

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CySEC

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.