AXIS to Acquire Aviabel

AXIS to Acquire Aviabel
29.11.2016 09:00 am

AXIS to Acquire Aviabel

M&A Deals

AXIS Capital Holdings Limited announced that it has agreed to acquire general aviation insurance and reinsurance leader Aviabel, increasing the company’s scale and relevance in the global aviation market. The “Aviabel” brand, including its Dutch brand “NLP” (“Nederlandse Luchtvaartpool”), will be retained as Belgium-based Aviabel supports the continued expansion of AXIS Insurance’s aviation operation globally. AXIS will continue to maintain the company’s locations in Brussels and Amsterdam. The transaction is subject to regulatory approval and other customary closing conditions.

“AXIS is committed to the aviation market for the long-term and, through this acquisition, we’re increasing our scale and market relevance. Aviabel is a highly trusted and respected brand, with a portfolio that complements our existing business, expands our presence into the general aviation and smaller account segments, as well as increases our geographic footprint in aviation,” said Mark Gregory, CEO of AXIS Insurance’s International Division. “Aviabel is also a great cultural fit – like AXIS, it is a specialty company that is entrepreneurial and agile and that places a very high priority on its clients and its employees.”

Aviabel has more than 80 years’ experience in providing insurance and reinsurance solutions for the general aviation sector and a portfolio of partnerships and clients spanning the globe and gross premiums written of approximately €50 million. The company’s products and services extend across general aviation, airlines, airports, pilots and crews, and aerospace manufacturers.

“Becoming part of AXIS provides an opportunity to benefit from the financial strength and resources of a global carrier and to significantly enhance the services and programs that we offer to our clients and our employees,” said Cécile Coune, CEO of Aviabel. “Further, AXIS is a company with a strong understanding of today’s transformed insurance marketplace and its leadership has a clear vision for where the industry is heading. This is the beginning of an exciting new chapter for Aviabel, our team and our clients.”

Related News

Venafi to Acquire Jetstack to Accelerate and Secure Digital Transformation

Venafi®, the inventor and leading provider of machine identity... Read more »

IHS Markit Acquires Catena Technologies

 IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, today announced the acquisition of Catena Technologies (Catena), a global regulatory... Read more »

Santander strengthens its international trade operations for SMEs with the completion of the investment in Ebury

Banco Santander announced today the completion of its purchase of a c.50.1% stake in Ebury, one of the best international payment, FX and international cash management... Read more »

Tenth Revolution Group Acquires Top AWS Solutions Provider, Rebura

Tenth Revolution Group, a global leader in cloud talent solutions, today announced the acquisition of Rebura, one of the UK’s fastest-growing Amazon Web Services (AWS)... Read more »

Auriga acquires the award-winning ATM cybersecurity solution Lookwise Device Manager from leading managed security services provider S21sec

Auriga, a leading supplier of technological solutions for the omnichannel banking and payments industries, announces the acquisition of Lookwise Device Manager (LDM), a modular... Read more »

TietoEVRY integration progressing as planned – employee consultations initiated to drive merger-related efficiencies

TietoEVRY is taking the next step in the integration to ensure its position as the leading digital services and software company in the Nordics. A unified organization... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel