La Mobilière is closing its Dublin-based insurtech Companjon, cutting 34 jobs as it retreats to focus solely on core insurance and pensions in Switzerland. Established five years ago to explore embedded insurance across Europe, Companjon provided cover integrated into purchases like event tickets. Despite onboarding new partners last year, mounting losses and strategic refocus have driven the exit. The phased wind-down could take years given operational complexity. Existing policies will run off pending Irish approvals. This marks a reality check on expansion bets beyond national markets, especially for legacy players reasserting home-ground priorities.

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