AXA and AIG acquisitions

by Gill Montia

Story link: AXA and AIG acquisitions

Details of two acquisitions have been announced so far this week: AXA UK has acquired The Davis Group and AIG Europe has acquired Direct Travel Insurance Services.

AXA’s purchase of The Davis Group will strengthened its commercial business, which specialises in insurance for small and medium sized enterprises (SMEs).

It follows the group’s acquisition of Smart & Cook in April of this year, which promoted AXA to the position of 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.

Davis Group is best known for the provision of specialist products and services for the freight transport and marine industries.

Meanwhile, AIG Europe (UK) Ltd has acquired Direct Travel Insurance Services, the independent travel insurance specialists.

The move supports AIG Europe’s existing position in the UK travel insurance market and the business will continue to operate from its base in Shoreham by Sea. It will also continue to trade under the Direct Travel Insurance brand.

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