AXA UK & Ireland today announces the acquisition of the renewal rights to Ageas’s commercial business.
- The acquisition further strengthens AXA’s growth strategy and commitment to its commercial business customers and broker partnerships, particularly in the SME and delegated authority market segments.
- AXA has long supported SME businesses in the UK, having already invested in products and propositions to support them, delivered with a responsive service and digital offering designed to meet specific needs of both customers and brokers.
- As part of the agreement, around 100 Ageas employees will move to AXA to provide capacity in servicing the migrating business. This will enable AXA to continue to provide a seamless operation and maintain quality, tailored relationships with brokers and clients, prioritising excellent service and value.
- The acquisition will see renewals transferred to AXA Commercial UK from June 2022. As part of the transaction, Ageas will continue to manage and provide ongoing service across all policies until they are underwritten by AXA at renewal. AXA, alongside Ageas, will work closely with brokers to ensure positive customer outcomes continue to be delivered. This acquisition does not include the back book, which will remain with Ageas.
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