Tue, 03 Dec 2019 | BUSINESS SALE
Property transaction insurance firm Secure Legal Title has been acquired by AXA XL for an undisclosed sum.
Founded in 2012, Secure Legal Title offers title-insurance, legal indemnities and title to shares insurance for real estate M&A transactions. The company is based in the UK but also has major operations across Europe, India and the Americas.
Secure Legal Title is a Lloyds-approved coverholder with a wide range of clients including real estate equity investors and developers, energy and infrastructure investors and developers and mortgage lenders.
Stephen Ashwell, chief underwriting officer for crisis management and special risks at AXA XL, said: "We are delighted to officially welcome our Secure Legal Title colleagues to AXA XL. Secure Legal Title will continue to operate under its brand and will be managed by its co-founders, Sean Dalton, Joel Peck and Jean-Bernard Wurm."
"We expect that the combination of their market-leading expertise and experience with AXA XL’s additional capacity, global network presence and resources will enable Secure Legal Title to further strengthen its position in this specialised marketplace and present a more attractive proposition to clients of theirs and ours” Ashwell added.
“With this transaction, Secure Legal Title builds on its long relationship with AXA XL and its insurers, as well as with Lloyd’s in London and in Brussels,” said Sean Dalton, co-founder and chairman of Secure Legal Title.
“There are natural synergies between AXA XL’s property and casualty business and Secure Legal Title’s real estate business, and we are confident that our clients will benefit from access to AXA XL’s infrastructure and additional capacity.”
This established IFA is assigned to one major platform ensuring a very smooth transition of client assets.
This is a highly profitable business with EBIT percentage of 33%, meaning money can be recouped quickly after a purchase.
With advisers and back-office staff in place, this business can be purchased and will keep running efficiently.
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