Global Insurance Management sold to Axa

French financial services giant Axa Group has acquired UK-based Global Insurance Management (GIM) in a transaction led by 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 is a worldwide leader in insurance with a high-profile presence in more than 56 countries” – Jon Gilbert, GIM

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 GIM, 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.”