M&A Deal Summary

Axis Capital Holdings Acquires Novae Group

On July 6, 2017, Axis Capital Holdings Ltd. acquired insurance company Novae Group Plc for 468M GBP

Acquisition Highlights
  • This is Axis Capital Holdings’ 4th transaction in the Insurance sector.
  • This is Axis Capital Holdings’ 0th largest (disclosed) transaction.
  • This is Axis Capital Holdings’ 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2017-07-06
Target Novae Group Plc
Sector Insurance
Buyer(s) Axis Capital Holdings Ltd.
Deal Type Add-on Acquisition
Deal Value 468M GBP

Target

Novae Group Plc

London, United Kingdom
website
Novae is a diversified property and casualty (re)insurance business operating through Syndicate 2007 at Lloyd’s. Novae delivers expert underwriting, consistent performance and dynamic capital management across the Group. Novae writes both insurance and reinsurance in the property, casualty and marine, aviation and political risk markets. The Group employs approximately 300 people between its offices in London and Bermuda.

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Buyer(S) 1

Buyer

Axis Capital Holdings Ltd.

Pembroke, Bermuda

website


Category Company
Founded 2001
SectorInsurance
Employees1,921
Revenue 4.8B USD (2020)
DESCRIPTION

Axis Capital is a provider of specialty-lines insurance and treaty reinsurance for customers around the world. Axis maintains operating subsidiaries in Bermuda, Ireland, and the United States. Axis Capital was founded in 2001 and is based in Pembroke, Bermuda.


DEAL STATS #
Overall 4 of 4
Sector (Insurance) 4 of 4
Type (Add-on Acquisition) 4 of 4
Country (United Kingdom) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-28 Aviabel NV/SA

Brussels, Belgium

Aviabel NV/SA is a premier independent specialty aviation insurer and reinsurer with locations in Brussels and Amsterdam. Aviabel has been assigned an “A-” (Stable) rating by Standard & Poor’s and an “A-” (Excellent) rating by A.M. Best.

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