Global Insurance Management acquired by Axa
- Coventry based insurance specialist joins French financial services multinational
- GIM provides tailored insurance products for 400 clients in 39 countries
- New ownership enables UK SME to become a global market leader
FRENCH financial services giant Axa Group has acquired the UK’s Global Insurance Management (GIM) in a transaction led by international SME adviser BCMS.
Based in Coventry, GIM is one of the UK’s leading insurance specialists – providing a comprehensive range of insurance and non-insured products to dealer groups, franchised dealers, manufacturers, bank and affinity partners.
Axa and GIM have been working together for nearly 40 years, with the Paris-based banking and insurance firm underwriting GIM’s automotive product range.
Axa Assistance Regional CEO For Europe Bruno Jantet said: “Global brings a wealth of complementary skills and competences, as well as wide-ranging expertise. This model provides Global with exceptional scope as Axa’s centre of excellence for extended warranty and related services.”
Managing Director of Global John Gilbert added: “Having worked in partnership with AXA for almost 40 years, developing tailored insurance products for clients across the UK and in more than 39 countries overseas, an acquisition by AXA Assistance is the next logical step for Global. Our reputation for delivering profitable, compliant, sustainable insurance solutions for leading brands led to us becoming the worldwide centre of warranty excellence for the AXA Group, and today’s announcement means an even brighter future for Global and our clients.
“AXA is a worldwide leader in insurance with a high profile presence in more than 56 countries. By becoming part of the AXA Group, we not only guarantee a continuity of the superior product development the well-known brands we work with have come to expect, but also expand our opportunities and can deliver new and innovative solutions to additional markets internationally.”
BCMS Deal Leader Scott Jones commented: “There aren’t many businesses like this around, so we attracted some big names in the insurance industry. But the relationship and fit with Axa is very good, and GIM now has the backing to continue growing its international sales. We wish them both well.”