AXA UK acquires The Davis Group

Source: Supply Chain Digital

Date :12/09/2007 15:50:05

AXA UK has announced the acquisition of independent commercial broker The Davis the UK’s second largest commercial lines broker Group.

The acquisition will be made through AXA UK’s subsidiary Venture Preference Ltd, (VPL) which also houses the recently acquired Smart & Cook, Stuart Alexander and Layton Blackham, purchased earlier in 2007.

Leigh Smart, chief executive of The Davis Group - which is headquartered in Newmarket- will remain in his current position as will all other staff.

He will work with VPL board member Stuart Reid in developing the business and integrating it into VPL.

Stuart Reid, Joint VPL CEO said: “The Davis Group is a well run business and will add diversity to the VPL proposition, as we had little presence in the freight and logistics markets.”

Leigh Smart, Chief Executive of The Davis Group said: “I look forward to working with…..VPL. I see their backing as beneficial to our customers and our employees and fundamental to our growth. It is a new and exciting time for the group.”

The Davis Group specialises in the provision of products and services for freight and logistic markets. In 2006, gross premiums totalled approximately £37m.

Its success in following years has been in the provision of specialist products and services for freight transport and marine industries.

September 12 2007