Verily, Alphabet's health tech subsidiary, has sold its insurance business, Granular, to RenaissanceRe for an undisclosed amount. This marks the latest shift in strategy for Verily, which has undergone several pivots since its inception in 2015.
Verily launched Granular in 2020 with financial backing from the commercial insurance unit of the Swiss Re Group.
Verily's exit from the insurance business is the latest pivot for Alphabet's health tech moonshot subsidiary.Verily is one of Google's sister companies and operates within Alphabet's"Other Bets" category. The Granular sale is the latest in a series of sweeping changes at the precision health company, which hasGranular, initially called Coefficient Insurance Company, in 2020 with financial backing from the commercial insurance unit of the Swiss Re Group.
Verily Alphabet Granular Insurance Renaissancere
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