AXA Group Completes Acquisition of Nobis Group, Italian Insurance Company
The AXA Group has officially finalized the acquisition of the Nobis Group, an Italian company specializing in personal property insurance. This transaction, initially valued at €423 million, may include an additional price supplement of up to €55 million, subject to the conditions set forth in the agreement.
The Nobis Group, well-established in Italy, recorded gross written premiums of €0.6 billion and a net profit of €34 million in 2024. It has a diversified distribution network, comprising non-exclusive agents and strategic partnerships with car dealerships, reinforcing its market position.
AXA Italy, a major player in the Italian insurance sector, also reported gross written premiums of €6.2 billion and a consolidated net profit of €0.2 billion in 2024. The company stands out for its wide range of personal property insurance products, as well as its savings, retirement, and life insurance services. It distributes its products through a network of agents, bancassurance partnerships, and direct channels.
Despite this strategic acquisition, AXA expects a negative impact of -1 point on its Solvency II ratio in the second quarter of 2025, a forecast already announced at the time of the agreement.
