AXA SA Acquires Nobis to Expand in Italy

AXA SA (FR:CS) has released an update.

AXA SA is set to bolster its position in the Italian personal property insurance market through the strategic acquisition of the Nobis Group, a move that will leapfrog AXA Italy from 5th to 4th place in market share. The purchase involves an initial payment of 423 million euros with additional potential supplements, aiming to drive growth and innovation within AXA’s operations. This acquisition, which is pending regulatory approval and expected to close by the first half of 2025, will enhance AXA’s distribution channels and is anticipated to have a slight negative impact on the company’s Solvency II ratio.

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