Add-on Acquisition • Insurance

Axis Capital Acquires Novae Group

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

Acquisition Context

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

Explore All 5490 Add-on Acquisition Insurance Deals - Search the Database Free

M&A Deal Summary
Date	July 6, 2017
Target	Novae Group
Sector	Insurance
Buyer(s)	Axis Capital
Deal Type	Add-on Acquisition
Deal Value	468M GBP

Target Company

Novae Group

London, United Kingdom

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.

Explore More Deals

Browse All 215,130 Deals

FILTER BY

Buyer Type (PE or Strategic)
Deal Size ($10M to $10B+)
Sector (60 Sectors)
Deal Type
Geography
& More

Search Free

Buyer Overview 1

Buyer

Axis Capital

Pembroke, Bermuda

Category	Company
Founded	2001
Sector	Insurance
Employees	1,876
Revenue	6.0B USD (2024)

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 Context for Buyer	#
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.	Buy	-

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.

Buy

Explore Related M&A Activity

Insurance M&A - Add-on Acquisition M&A Deals - United Kingdom M&A - 2017 M&A