iCapital announced Tuesday that it agreed to acquire annuity and insurance technology firm Hexure in a move the wealthtech firm said will help it develop an end-to-end annuity and insurance tech platform that connects to iCapital’s alternatives and structured investments platform.
iCapital said it will incorporate Hexure’s FireLight digital sales platform and ForeSight illustration technology into its platform, expanding annuity and life insurance support.
The acquisition is expected to close in the second quarter of 2026, iCapital said in a statement emailed to WSR.
“Our focus is on business‑as‑usual continuity for Hexure’s teams and clients through integration,” iCapital said. “Hexure will continue to operate globally, including across the U.S. and India. Over time, technical integration will enhance how iCapital supports annuity and insurance workflows and broaden the solutions available to clients.”
iCapital added, “There are no immediate changes to the Hexure executive team. Our focus is on continuity for clients and employees, and the Hexure leadership team is working closely with iCapital to support the business and ensure a smooth transition.”
In a press release, iCapital stated that the insurance and alternatives markets are converging and carriers, asset managers and distributors are increasing collaboration to offer alternatives through insurance vehicles to help advisors’ clients with retirement income, tax efficiency and diversification.
“iCapital offers the integrated technology platform that serves as an operating system for alternative investments, structured investments, and annuities—supported by world-class infrastructure and informed by deep insights and data intelligence,” according to Lawrence Calcano, CEO and Chairman of iCapital.
“With Hexure’s software solutions, we will support the insurance ecosystem end-to-end, from front-end innovation through seamless back-end execution,” he continued. “This strategic acquisition expands our reach and deepens our technology capabilities, unlocking new opportunities to better serve our clients and the broader industry as a whole.”
By combining iCapital’s annuity marketplace, education and investment lifecycle management solutions and tools with Hexure’s e-application, illustration and post-sale workflow technology, iCapital said it will be “helping unify a historically fragmented annuity and insurance ecosystem into one connected platform with a seamless investment experience for the industry.”
“Joining iCapital allows us to significantly extend the reach and impact of our technology and deliver even greater value to our clients,” according to Bill Lucchini, CEO of Hexure. “The progress our team has made positions Hexure well for this exciting new chapter. Together, we will enable critical sales and servicing workflows—helping firms operate more efficiently, scale with confidence, and better serve end investors.”
BofA Securities served as financial advisor to iCapital for the acquisition, iCapital said.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
