AXA: agreement to acquire Nobis in Italy
(CercleFinance.com) - Alongside the publication of its H1 results, AXA announces that it has reached an agreement to acquire Gruppo Nobis, an Italian insurance company with gross written premiums of E0.
5bn and net income of E35m in 2023.
Nobis' core business is personal general insurance, and it benefits from a diversified distribution network including non-exclusive agents and partnerships with car dealerships.
Subject to the usual conditions, including regulatory approvals, the transaction is expected to close before the end of the first half of 2025. The initial consideration will be E423m, with a potential earn-out of up to E55m.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
5bn and net income of E35m in 2023.
Nobis' core business is personal general insurance, and it benefits from a diversified distribution network including non-exclusive agents and partnerships with car dealerships.
Subject to the usual conditions, including regulatory approvals, the transaction is expected to close before the end of the first half of 2025. The initial consideration will be E423m, with a potential earn-out of up to E55m.
Copyright (c) 2024 CercleFinance.com. All rights reserved.