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Sunday 09th of January 2011
September 7, 2007    

AIG Europe and AXA UK acquisitions

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by Kay Murchie

There have been two acquisitions within the insurance industry recently, AIG Europe (the provider of insurance services) has acquired Direct Travel Insurance Services and AXA UK (the insurance and asset management group) has acquired The Davis Group.

AIG Europe’s acquisition will support their existing position in the UK travel insurance market and the business will continue to operate from its base in Shoreham by Sea. A spokesperson for AIG commented that Direct Travel Insurance Services is a successful business known for first-class customer service and competitively priced, comprehensive cover.

Direct Travel Insurance Services has been operating since 1992 and has provided travel insurance for over 4.5 million customers.

AXA’s acquisition of The Davis Group will increase its commercial business, which specialises in insurance for small and medium sized enterprises (SMEs). This announcement comes after the group’s acquisition of Smart & Cook in April 2007, which resulted in AXA becoming the second largest SME broker in the UK.

The Davis Group specialises in commercial and transport insurance, and the acquisition is being made through AXA’s subsidiary, Venture Preference Ltd. The Davis Group is recognised as the provision of specialist products and services for the freight transport and marine industries.

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