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Member, Beacon International Group, Ltd.
Bermuda-based reinsurer Axis Capital Holdings Ltd. plans to acquire Belgian aviation insurer Aviabel S.A. for an undisclosed amount, The Royal Gazette reported. Axis said that after the acquisition it would maintain Aviabel's locations in Brussels and Amsterdam and also keep the Aviabel brand, as well as the company's Dutch brand, Nederlandse Luchtvaartpool. "Aviabel expands our presence into the general aviation and smaller account segments, as well as increases our geographic footprint in aviation," said Mark Gregory, chief executive of Axis Insurance's international division.