Bermuda domiciled re/insurance company Watford has completed its purchase of French property and casualty insurer Axeria, having acquired 100% of the capital stock from the APRIL Group.
The deal was first announced in December 2019, and will see Watford acquire a company with in-force gross written premiums of approximately €140 million.
Headquartered in Lyon, Axeria also maintains branch offices in Lille and Bordeaux and is active in the French and EU commercial P&C markets.
“We are pleased to add Axeria to our insurance business in Europe and look forward to working with them to carry out our development in the region. Our objective is to leverage our large capital base and Axeria’s experienced team to strengthen existing business relationships and to build new ones.”
Watford Chief Executive Officer Jon Levy commented: “We are pleased to add Axeria to our insurance business in Europe and look forward to working with them to carry out our development in the region.”
“Our objective is to leverage our large capital base and Axeria’s experienced team to strengthen existing business relationships and to build new ones.”
