Roojai Insurance
Roojai Insurance is a Thailand-based non-life insurer offering motor, health, and other general insurance products, with digital operations extending into Indonesia.
Last updated August 31, 2026
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Overview
Roojai Insurance Public Company Limited is a Thailand-based non-life insurance company headquartered in Bangkok. Its business covers motor insurance, health insurance, and other general insurance activities, combining the regulatory position of a licensed insurer with the digital distribution and customer-service orientation associated with the wider Roojai Group. The company traces its corporate history to 11 February 1948, when it began operations as Maenam Warehouse Insurance Company Limited. At that stage, the business operated as a general insurer across multiple non-life segments. Its ownership and identity changed over subsequent decades. In 1994, after Siam City Bank became the major shareholder, the insurer was renamed Siam City Insurance Company Limited. In 2004, the name was shortened to Siam City Insurance. A major transformation took place in 2019, when the company was acquired by FWD Group, a Hong Kong-based insurance and financial-services group. Following that transaction, it operated under the name FWD General Insurance Public Company Limited. The company later changed hands again: in 2022, Roojai Group acquired FWD General Insurance from bolttech Group. The acquisition gave Roojai a licensed insurance platform in Thailand and was followed by the adoption of the Roojai Insurance Public Company Limited name. Roojai Group was founded in Thailand in 2016 by Nicolas Faquet as a brokerage and insurtech business. The group’s development of a direct and technology-oriented insurance model provided the commercial context for the 2022 acquisition. Rather than remaining solely an intermediary, Roojai used the acquired insurer to operate under its own branded insurance company and to broaden its control over product development, underwriting, distribution, and customer support. The group also pursued regional expansion. In 2022, Roojai entered Indonesia by launching a fully digital car-insurance service in partnership with Sompo Indonesia. In 2024, it acquired DirectAsia Thailand from Hiscox Group and acquired Lifepal, an Indonesian digital insurance marketplace. These transactions expanded Roojai’s reach in both insurance distribution and digital marketplace operations, while reinforcing its focus on motor insurance and digitally enabled customer journeys. Roojai’s capital base has also been supported by institutional investment. The company announced a US$42 million Series B funding round in March 2023 led by HDI International, a subsidiary of Germany’s Talanx Group, with participation from the International Finance Corporation. In 2025, it raised a further US$60 million through a joint investment by Apis Partners Group and Asia Partners. The available reference material does not establish whether these figures represent investment in the operating insurer itself, the broader Roojai Group, or related corporate entities; they are therefore best understood as group-level funding references unless more specific filings are consulted. The brand has developed visibility beyond insurance transactions through sports sponsorship. Roojai Insurance is the main sponsor of the Roojai Insurance Cycling Team, founded in 2020, which has competed in Thailand and internationally. The company was also identified as an official main sponsor of the 2025 Southeast Asian Games and the 2025 ASEAN Para Games. Its overall positioning is that of a digitally oriented, consumer-facing non-life insurer seeking to make insurance more accessible through direct channels, technology, partnerships, and regional scale.
History
Roojai Insurance’s corporate history begins on 11 February 1948, when the business was established as Maenam Warehouse Insurance Company Limited. It entered the general-insurance market and operated across a range of non-life segments. The company’s identity later changed as ownership evolved. In 1994, following Siam City Bank’s acquisition of a major shareholding, the insurer became Siam City Insurance Company Limited. In 2004, the corporate name was shortened to Siam City Insurance. The next major transition came in 2019, when FWD Group acquired the company. FWD is a Hong Kong-based insurance and financial-services group with operations in several Asian markets. After the transaction, the insurer was renamed FWD General Insurance Public Company Limited, bringing it into FWD’s corporate structure and brand architecture. In 2022, Roojai Group acquired FWD General Insurance from bolttech Group. Roojai Group had been founded in Thailand in 2016 by Nicolas Faquet as a brokerage and insurtech company. The acquisition represented a shift from a primarily intermediary and technology-led model toward ownership and operation of a licensed insurance carrier. Following the transaction, the company was renamed Roojai Insurance Public Company Limited and became the regulated insurer operating under the Roojai brand. The 2022 period also marked Roojai’s move beyond Thailand. The group launched a fully digital car-insurance service in Indonesia in partnership with Sompo Indonesia. The Indonesian initiative extended Roojai’s technology-focused distribution model into a new market while using a local insurance partnership. In 2024, Roojai expanded its regional platform through two acquisitions: DirectAsia Thailand, purchased from Hiscox Group, and Lifepal, described as one of Indonesia’s largest digital insurance marketplaces. Roojai has sought external capital to support growth. A US$42 million Series B round was completed in March 2023, led by HDI International, a Talanx Group subsidiary, with participation from the International Finance Corporation. In 2025, Apis Partners Group and Asia Partners jointly invested a further US$60 million. The cited reference does not provide sufficient detail to distinguish precisely between funding raised by Roojai Insurance Public Company Limited and funding raised by affiliated Roojai Group entities. Brand-building has included sports and public-event sponsorship. The Roojai Insurance Cycling Team was founded in 2020 and has competed in Thailand and overseas. Roojai Insurance was also listed as an official main sponsor of the 2025 SEA Games and the 2025 ASEAN Para Games. The company’s current identity therefore combines the long operating history of a Thai general insurer with Roojai Group’s newer emphasis on digital insurance, consumer accessibility, motor products, partnerships, and Southeast Asian expansion.
- 2024
Expansion through DirectAsia Thailand and Lifepal acquisitions
[1]Roojai acquires DirectAsia Thailand from Hiscox Group and Indonesian insurance marketplace Lifepal.
- 2023
Series B financing
[1]The company or wider group completes a US$42 million Series B round led by HDI International, with IFC participation.
- 2022
Roojai acquires the licensed insurer
[1]Roojai Group acquires FWD General Insurance from bolttech Group and renames it Roojai Insurance Public Company Limited.
- 2022
Indonesia market entry
[1]Roojai launches a digital car-insurance service in Indonesia in partnership with Sompo Indonesia.
- 2020
Roojai Insurance Cycling Team founded
[1]The company becomes associated with a branded cycling team competing in Thailand and internationally.
- 2019
Acquired by FWD Group
[1]FWD Group acquires the insurer, which subsequently operates as FWD General Insurance Public Company Limited.
- 2016
Roojai Group is founded
[1]Nicolas Faquet establishes Roojai Group as a Thai brokerage and insurtech business.
- 2004
Name shortened to Siam City Insurance
[1]The company shortens its corporate name to Siam City Insurance.
- 1994
Renamed Siam City Insurance Company
[1]Following a change in major shareholding to Siam City Bank, the insurer adopts the Siam City Insurance Company Limited name.
- 1948
Operations begin as Maenam Warehouse Insurance Company
[1]The company begins operating on 11 February 1948 as a general insurer across non-life insurance segments.
Products and positioning
A digitally oriented Southeast Asian non-life insurer focused on accessible motor and health insurance, direct customer journeys, technology-enabled distribution, and regional expansion.
Non-life insurance
Motor insurance
Motor insurance is a central part of Roojai’s business and includes car-insurance offerings distributed through digital channels. The group’s expansion into Indonesia was also built around a fully digital car-insurance service, reflecting its focus on simplified purchase journeys, online servicing, and technology-enabled customer engagement.
Non-life insurance
Health insurance
Health insurance forms part of Roojai Insurance’s broader non-life portfolio. The available reference material confirms the product category but does not specify individual plan names, coverage limits, claims features, or current distribution arrangements.
Non-life insurance · 1948
General insurance
The company has historical roots as a general insurer and continues to operate across non-life insurance segments beyond motor and health. Publicly available reference material does not enumerate the full current product catalogue.
Digital insurance service · 2022
Digital car insurance in Indonesia
Introduced in 2022 through a partnership with Sompo Indonesia, this service marked Roojai’s entry into the Indonesian market. It was designed as a fully digital car-insurance offering and extended the group’s direct-to-consumer technology model beyond Thailand.
Marketing campaigns
- 2025SEA Games and ASEAN Para Games sponsorship
Southeast Asia
Roojai Insurance was identified as an official main sponsor of the 2025 SEA Games and the 2025 ASEAN Para Games.
- 2020Roojai Insurance Cycling Team
Thailand · International
Roojai became the main sponsor of a branded cycling team founded in 2020. The team has participated in competitions in Thailand and abroad, giving the insurer a sports-marketing platform associated with endurance, mobility, and community participation.
Outcome. The team continued participating in domestic and international competitions.
Brand decisions
2025
Additional institutional investmentOtherBackground
Roojai continued raising capital for its broader growth strategy.
Action taken
Apis Partners Group and Asia Partners jointly invested US$60 million.
Investment raised. US$60 million raised (2025)
2024
Acquisitions of DirectAsia Thailand and LifepalM&ABackground
Roojai pursued regional expansion through both insurance operations and digital distribution platforms.
Action taken
Roojai acquired DirectAsia Thailand from Hiscox Group and Lifepal, an Indonesian digital insurance marketplace.
Aftermath
The transactions broadened Roojai’s Thai insurance presence and Indonesian digital-distribution footprint.
2023
Series B financingOtherBackground
Roojai sought institutional capital to support its insurance and regional expansion strategy.
Action taken
The company or wider Roojai Group completed a US$42 million Series B round led by HDI International, with participation from IFC.
Series B funding. US$42 million raised (March 2023)
2022
Roojai Group acquires FWD General InsuranceM&ABackground
Roojai Group sought to move from a brokerage and insurtech model into ownership of a licensed insurer.
Action taken
Roojai acquired FWD General Insurance from bolttech Group and renamed the company Roojai Insurance Public Company Limited.
Aftermath
The transaction established Roojai Insurance as the licensed insurance company operating under the Roojai brand.
2022
Launch of Indonesian digital car insuranceProduct launchBackground
Roojai sought to extend its digital insurance model beyond Thailand.
Action taken
The group launched a fully digital car-insurance service in Indonesia in partnership with Sompo Indonesia.
Aftermath
The launch marked Roojai’s entry into the Indonesian insurance market.
2019
FWD Group acquisitionM&ABackground
The insurer had operated under the Siam City Insurance identity before being acquired by FWD Group.
Action taken
FWD Group acquired the company and rebranded it as FWD General Insurance Public Company Limited.
Aftermath
The company later became the platform acquired by Roojai Group in 2022.
Recent events
- 2025
Roojai announces additional institutional investment[1]
Other
Roojai raised US$60 million through a joint investment by Apis Partners Group and Asia Partners.
- 2025
Roojai sponsors the 2025 SEA Games and ASEAN Para Games[1]
Campaign
Roojai Insurance was identified as an official main sponsor of the 2025 Southeast Asian Games and the 2025 ASEAN Para Games.
- 2024
Roojai acquires DirectAsia Thailand and Lifepal[1]
M&A
Roojai acquired DirectAsia Thailand from Hiscox Group and Lifepal, an Indonesian digital insurance marketplace.
- 2023
Roojai raises Series B funding[1]
Other
Roojai completed a US$42 million Series B round led by HDI International, with participation from the International Finance Corporation.
- 2022
Roojai acquires FWD General Insurance and adopts the Roojai Insurance name[1]
M&A · Leadership change
Roojai Group acquired FWD General Insurance Public Company Limited from bolttech Group, enabling the group to operate a licensed insurer under the Roojai brand.
- 2022
Roojai launches digital car insurance operations in Indonesia[1]
Product launch
Roojai entered Indonesia with a fully digital car-insurance service developed in partnership with Sompo Indonesia.
Sources2 sources
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