King Price secures significant investment for Accelerated Growth
Orient Victoria Capital (OVC) has acquired a stake in King Price Financial Services (King Price), providing strategic capital to accelerate growth.
King Price has secured a significant strategic investment from Singapore-based OVC.
The transaction sees Orient Victoria Capital acquiring a significant stake in King Price through a combination of a capital raise and the acquisition of shares from existing shareholders.
Importantly, all existing shareholders remain invested, reaffirming their long-term commitment to the insurance group’s future.
“We have differentiative products, and we’re only warming up. OVC sees King Price as a disruptor. They’re backing our team, our culture, and our ability to execute on the South African opportunity. OVC brings strong experience in software platforms, mathematical modelling and operational excellence.” says Gideon Galloway, the founder and CEO of King Price.
Founded as a direct personal line insurer, King Price has grown into a fully-fledged insurance group. Since 2014, it has achieved an average annual growth rate of approximately 53% and a compounded gross written premium growth rate of 43%. The group currently writes more than R7 billion in annual premiums.
OVC is the investment vehicle of Zak Calisto’s family office in Singapore. The Calisto family has been living in Singapore for over 12 years and their family office is registered with the Monetary Authority of Singapore.
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Author: Nhlalenhle Dlangalala from Hlanzekile River and Ocean Cleaning on behalf of King Price Insurance.
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