AXA Group Acquires Italian Insurer Nobis, Strengthening its Position in the Damage Insurance Market
The AXA Group, a global leader in insurance, has acquired Italian company Nobis, specializing in personal property damage insurance. According to Atlas magazine, this operation, initially valued at €423 million (USD 463.1 million), could reach an additional €55 million (USD 60.2 million) depending on the acquisition price conditions.
The long-term agreements with automotive concessionaires within the Nobis network will enable AXA Italy to diversify its distribution channels, fostering profitable growth in its business. With the contribution of Nobis' network and expertise, AXA Italy aims to strengthen its position in the damage insurance market, moving from 5th to 4th place, with a market share gain of around 1 percentage point.
The operation is subject to approval by the relevant regulatory authorities. According to forecasts, the transaction is expected to be finalized in the first half of 2025.
