AXA acquires SBJ Group

by Gill Montia

Story link: AXA acquires SBJ Group

AXA is acquiring SBJ Group, a broker and risk management consultant that focuses on the mid-corporate market and recorded revenues of around £78.1 million in 2006.

The acquisition will enhance AXA’s UK advisory and broking operations, while giving the insurer a wider national presence and access to new market areas.

It will also expand AXA’s SME market offering, which is currently represented by Venture Preference.

SBJ is a Lloyd’s broker that provides access into the London insurance market for its international network of long-standing intermediary partners.

Nicolas Moreau, AXA’s chief executive, says: “This signals an exciting opportunity offering real benefits for both AXA UK and SBJ … AXA UK is firmly committed to expanding its presence and expertise in advisory services and in broking and SBJ will be joining a company with real ambition in these areas.”

George Boden, chief executive of SBJ adds: “SBJ has grown substantially in both business and staff over the last five years and we foresee a period of further sustained growth as part of AXA who will provide firm support for our business plans.”

AXA’s offer has been unanimously recommended by the board of SBJ, has now been put to shareholders.