AXA UK today strengthened its position as the UK's 2nd largest SME broker with the acquisition of independent commercial broker, The Davis Group. AXA UK is buying the entire share capital of The Davis Group through its 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 will remain in the same position, along with all other staff, and will work with VPL board member Stuart Reid in developing the business and integrating it into VPL.

The roots of The Davis Group go back to 1975 and by 1988 it had specialised in commercial and transport insurance. The success in subsequent years has been as a result of strong management and an excellent reputation, particularly in the provision of specialist products and services for freight transport and marine industries.

Stuart Reid, Joint Chief Executive Officer of VPL, said: “I am very pleased that The Davis Group are joining us. It is a well run business and will add diversity to the VPL proposition as we had little presence in the freight and logistics markets.

This acquisition is further proof that AXA remains the preferred choice for many quality brokers who wish to become part of a fast growing, quality brokerage in the UK. The combination of both independence and the strength of AXA give us a unique position within the UK.”

Leigh Smart, Chief Executive of The Davis Group, said: “I look forward to working with Stuart Reid, Chris Blackham and Paul Meehan at 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.”