AXA XL, the property and casualty (P&C) and specialty risk unit of AXA, has announced the acquisition of London-based insurance agency and Lloyd’s of London coverholder, Secure Legal Title Limited.
Secure Legal Title was founded in 2012 and provides protection to cover legal risks in property transactions and mortgage finance, with major operations in the UK, Europe, India, and the Americas.
The acquisition sees AXA XL become the first commercial P&C insurer to offer title insurance on an international basis.
Secure Legal Title offers a range of solutions, including title insurance, legal indemnities, and title to shares insurance for real estate mergers & acquisition transactions.
At the same time, AXA XL has announced the acquisition of a Mexican title insurer affiliated with Secure Legal Title, Armour Secure Insurance, subject to regulatory approvals.
Pending the completion of the transaction, both Secure Legal Title and Armour Secure Insurance will continue their collaboration in providing title insurance to the Mexican marketplace.
Stephen Ashwell, Chief Underwriting Officer (CUO), Crisis Management & Special Risks, AXA XL, said: “We are delighted to officially welcome our Secure Legal Title colleagues to 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.”
Sean Dalton, Chairman of Secure Legal Title, added: “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.”
