AXA XL has wrapped up the takeover of Secure Legal Title, a UK-based insurance agency and Lloyd’s coverholder, for an undisclosed sum.
Secure Legal Title was established in 2012. The company operates in the UK, India, Europe, and the Americas.
The acquired entity offers insurance products to cover legal risks in property transactions as well as mortgage finance.
Additionally, Secure Legal Title provides legal indemnities, title insurance, and title to shares insurance for mergers and purchase transactions in the real estate industry.
Separately, AXA XL has agreed to purchase Armour Secure Insurance (ASI), a Mexican title insurance firm affiliated with Secure Legal Title.
Founded in 2008, ASI provides title insurance and escrow services for institutional as well as residential clients in Mexico.
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AXA XL crisis management & special risks – chief underwriting officer Stephen Ashwell said: “We are delighted to take this first step towards acquiring Armour Secure Insurance. Armour Secure Insurance will continue to operate under its brand for the time being.
“We expect that the combination of their market-leading expertise and experience with AXA XL’s additional capacity and resources will enable Armour Secure Insurance to further strengthen its position in the Mexican marketplace and present a more attractive proposition to clients of theirs and ours.”
In September, AXA XL – the property & casualty (P&C) and specialty risk division of insurance giant AXA – partnered with Accenture to provide cybersecurity services to underwriters, brokers and clients.