AXA XL acquires Secure Legal Title

AXA XL has purchased Lloyd’s approved coverholder, Secure Legal Title, for an undisclosed amount.

The London-based insurance agency provides insurance to cover legal risks in property transactions and mortgage finance. It operates in the UK, Europe, India and the Americas.

The firm’s products include title insurance, legal indemnities and title to shares insurance for real estate merger and acquisition transactions.

As part of the agreement, the business will continue to operate under its brand and will be managed by its co-founders, Sean Dalton, Joel Peck and Jean-Bernard Wurm, explained chief underwriting officer, crisis management and special risks at AXA XL, Stephen Ashwell.

Secure Legal Title’s chairman, Sean Dalton said: “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.

“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,” he added.

Separately, AXA XL has agreed to acquire Mexican title insurance company affiliated with Secure Legal Title, Armour Secure Insurance, subject to regulatory approvals. Pending completion of the deal, the two companies will continue their close collaboration in providing title insurance to the Mexican market.

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