AXA Advisory Holdings has made a formal offer to purchase 100% of the share capital of SBJ Group, an insurance broker and risk management consultant.
AXA has announced that the proposed acquisition of SBJ will complement and enhance its UK advisory and broking capability, bringing a number of strengths to the group, including increased scale, a wider national presence and access to new market areas.
SBJ is made up of four principal business units. The addition of SBJ business will expand AXA’s SME market offering currently represented by Venture Preference and enhances the proposition for larger corporate clients.
Nicolas Moreau, CEO of AXA UK, said: This signals an exciting opportunity offering real benefits for both AXA UK and SBJ and I am confident that SBJ’s shareholders will respond positively to our offer.
George Boden, CEO of SBJ, added: SBJ has grown substantially in both business and staff over the last five years and we foresee a period of further sustained growth as part of AXA who will provide firm support for our business plans.