H.S.H. Prince Max von und zu Liechtenstein Joins Wefox Board
Berlin-based insurtech wefox has announced that H.S.H. Prince Max von und zu Liechtenstein has been appointed as a member of the board with immediate effect.
H.S.H. Prince Max von und zu Liechtenstein, who already is the CEO and chairman of LGT Group, which is an investor in wefox, will work alongside the CEO and founder of wefox, Julian Teicke, and the recently-appointed chairman of the board, Young Sohn, the former president of Samsung Electronics.
Prince Max von und zu Liechtenstein is the second son of Prince Hans-Adam II and Princess Marie. Prince Maximilian and the Principality of Liechtenstein is a constitutional hereditary monarchy on a democratic and parliamentary basis. According to reports, The Princely House has a significant political role in the reputation and the development of the country.
He is also a leading figure in the European business scene and holds an MBA from Harvard Business School. He began his professional career in the private equity industry where he worked from 1993 until 2005 for JPMorgan Partners and IK. He has been the CEO of LGT Group since 2006 and was appointed to the role of Chairman of LGT Group in 2021. As the founder and Chairman of Lightrock, he is also leading an impact investing firm with over CHF 3 billion in client assets under management,
wefox is the leading insurtech in Europe
Speaking about his recent appointment to the insurtech’s board, Prince Max von und zu Liechtenstein said, “I am delighted to be joining the wefox board. wefox is one of the most successful European tech companies with great potential for further development on a global level as well. The insurance sector is an exciting market with large volumes. I believe wefox has the potential to digitally disrupt and transform this industry.”
The Royal, who holds an MBA from Harvard Business School, started his professional career in the private equity industry where he worked from 1993 until 2005 for JPMorgan Partners and IK. He has been the CEO of LGT Group since 2006 and was appointed to the role of Chairman of LGT Group in 2021. He is also the founder and Chairman of Lightrock, a leading impact investing firm with over CHF 3 billion in client assets under management.
JulianTeicke, CEO and founder of wefox, said, “This is a strong vote of confidence in our business following the appointment of Young as our chairman, and now with H.S.H. Prince Max von und zu Liechtenstein joining our board we are building a solid leadership team to take wefox to the next level of our growth.
“In the last six years, wefox has continued to grow by doubling revenues every year and we are on track this year to double our revenues again to €650m with a clear path to profitability. We have demonstrated that our model of indirect distribution coupled with advanced technology to streamline operations and improve the overall customer experience is very effective.
“This year we will expand into the Netherlands and in 2023 we will begin our drive for international growth starting with the US and Asia. All of which will steer wefox to become the leading insurtech in the world by the end of the decade,” added Teicke.
wefox has experienced an unprecedented run of success and growth
The move is just the latest news to emerge from wefox’s considerable run of successes, which include its IPO last year, its role as main sponsor of AC Milan, and its US$600mn funding round, which is the largest round ever to have been held globally for an insurtech. wefox also just announced it has hit the two million customer mark and has a valuation of $3bn, placing the insurtech among the fastest growing tech companies in the world.
