AXA XL becomes only commercial P&C insurer to offer global Title insurance
AXA XL has announced that it has completed the acquisition of Secure Legal Title Limited, a London-based insurance agency and Lloyd’s approved coverholder, with major operations in the UK, Europe, India and the Americas.
Founded in 2012, Secure Legal Title provides insurance to cover legal risks in property transactions and mortgage finance. Secure Legal Title’s products include title insurance, legal indemnities, and title to shares insurance for real estate merger & acquisition transactions. The firm’s clients are real estate equity investors and developers, energy and infrastructure investors and developers, and mortgage lenders.
AXA XL has also announced today that it has entered into an agreement to acquire Armour Secure Insurance (ASI), a Mexican title insurance company affiliated with Secure Legal Title, subject to all applicable regulatory approvals. Pending completion of the acquisition, Secure Legal Title and ASI will continue their close collaboration in providing title insurance to the Mexican market.
“We are delighted to officially welcome our Secure Legal Title colleagues to AXA XL,” commented Stephen Ashwell, Chief Underwriting Officer – Crisis Management & Special Risks, at AXA XL. “Secure Legal Title will continue to operate under its brand and will be managed by its co-founders, Sean Dalton, Joel Peck and Jean-Bernard Wurm. We expect that the combination of their market-leading expertise and experience with AXA XL’s additional capacity, global network presence and resources will enable Secure Legal Title to further strengthen its position in this specialised marketplace and present a more attractive proposition to clients of theirs and ours.”
“With this transaction, Secure Legal Title builds on its long relationship with AXA XL and its insurers, as well as with Lloyd’s in London and in Brussels. There are natural synergies between AXA XL’s property and casualty business and Secure Legal Title’s real estate business, and we are confident that our clients will benefit from access to AXA XL’s infrastructure and additional capacity”, said Sean Dalton, Chairman of Secure Legal Title.
Authored by AXA XL
In July 2012 the AXA Commercial Lines and Personal Intermediary businesses came together to form a new single organisation – AXA Commercial Lines and Personal Intermediary. Led by Amanda Blanc, the business offers brokers a more integrated and consistent approach from AXA which is focussed on their needs as a business – whatever the product. AXA Commercial Lines & Personal Intermediary provides underwriting expertise, offering a range of commercial lines and personal lines products and insurance solutions to our brokers and customers. AXA Commercial & Personal Intermediary is part of AXA Group, a worldwide leader in insurance and asset management serving 101 million clients.
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