The deal strengthens Wipro’s foothold in AI-driven insurtech services for the property and casualty insurance sector.
Wipro IT Services, a subsidiary of Indian tech firm Wipro, will acquire an additional 20% stake in US-based insurtech Aggne Global for $28.5m in cash. The transaction, set to close by 5 June 2026, will raise Wipro’s total holding to 80%.
Wipro previously acquired a 60% stake in Aggne Global in February 2024. Aggne Group, which includes Aggne Global, specializes in AI and intellectual property-driven services for the property and casualty insurance industry, reporting annual turnovers of $18.9m in FY24, $24.2m in FY25, and $27.5m in FY26.
The move aims to enhance Wipro’s capabilities in AI-led transformation services for insurers, with no regulatory approvals required for the transaction.