Watford targets new business relationships in France with Axeria acquisition

Watford Holdings has completed the purchase of Axeria IARD (Axeria), a French property and casualty insurance company with offices in Lyon, Lille and Bordeaux.

Watford acquired 100 percent of Axeria’s capital stock from the APRIL Group.

Axeria is active in the French and European Union commercial property and casualty insurance market, with in-force gross premiums written of approximately €140 million.

Jon Levy, Watford’s chief executive officer, said: “Our objective is to leverage our large capital base and Axeria’s experienced team to strengthen existing business relationships and to build new ones.”