Business
Roadzen Announces Successful Closing of Its Acquisition of U.S. Commercial Auto Managing General Underwriter EliteCover
EliteCover is an MGU operating in the U.S. commercial auto insurance industry. The transaction, as previously announced, is non-dilutive and is expected to contribute over $8 million in annual revenues over the next twelve months, with 25%+ Adjusted EBITDA margins.NEW YORK, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) today announced the successful closing of its previously announced acquisition of majority control of EliteCover Insurance Solutions, Inc. (“EliteCover”), a licens
About this update from Roadzen, Inc.
[{"type":"image","alt":"Roadzen Inc.","displaySize":"","headline":null,"caption":"Roadzen Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":238,"height":69,"url":"https://media.zenfs.com/en/globenewswire.com/fcd3edda2d4bf2f31d09d0f233f5817a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/EixI0sbqAqY06w__3u8ymQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEyMjtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/fcd3edda2d4bf2f31d09d0f233f5817a","width":238,"height":69}},"lazy":false},{"type":"text","content":"EliteCover is an MGU operating in the U.S. commercial auto insurance industry. The transaction, as previously announced, is non-dilutive and is expected to contribute over $8 million in annual revenues over the next twelve months, with 25%+ Adjusted EBITDA margins.","length":265,"tagName":"p"},{"type":"text","content":"NEW YORK, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) today announced the successful closing of its previously announced acquisition of majority control of EliteCover Insurance Solutions, Inc. (“EliteCover”), a licensed commercial auto insurance broker and managing general underwriter (MGU) operating across multiple U.S. states.","length":348,"tagName":"p"},{"type":"text","content":"First announced October 29, 2025, the acquisition strengthens Roadzen’s position in the $80 billion in annual Gross Written Premiums (GWP) U.S. commercial auto insurance market by combining EliteCover’s underwriting authority, regulatory licenses, and distribution footprint with Roadzen’s AI, telematics, and automated claims capabilities. The transaction is non-dilutive and is expected to contribute over $8 million in annual revenues in the next twelve months, with 25%+ Adjusted EBITDA margins.","length":499,"tagName":"p"},{"type":"text","content":"EliteCover is licensed in California, Texas, Illinois, and New Jersey, Lloyd’s of London Coverholder authority, and serves intermodal, freight, logistics, and mixed-use fleets through a national agency network. Since writing its first policy in February 2025, EliteCover has scaled to an annualized premium run-rate approaching $20 million, supported by more than 90 fleet clients and a pipeline of over 400 agencies representing more than $100 million in potential annual premiums. Roadzen and EliteCover are integrating DrivebuddyAI, xClaims, and GDN platforms to enable pre...