CNBC February 6, 2025
Key Points
– Alphabet’s Verily is selling its subsidiary, Granular Insurance Company, to Elevance Health.
– 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 selling its stop-loss insurance subsidiary, Granular Insurance Company, to the insurance provider Elevance Health, the Alphabet health tech company confirmed to CNBC on Thursday.
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 has slashed its workforce, restructured its business and overhauled its executive...
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