AXIS CAPITAL HOLDINGS LIMITED (NYSE:AXS) Files An 8-K Other EventsItem 8.01. Other Events.
On October18, 2017, AXIS Capital Holdings Limited (“AXIS”) announced that it has received clearance from all applicable regulators, including the European Commission, and has finalized the completion of its acquisition (through its indirect wholly-owned subsidiary, AXIS Specialty UK Holdings Limited) of Novae Group plc (“Novae”). The acquisition was made to a cash offer of 715 pence per share for the acquisition of the entire issued and to be issued share capital of Novae (the “Novae Shares”) and was completed in two phases. In the first phase, AXIS acquired the Novae Shares for approximately £462.9million on October2, 2017 (approximately $615.6 million based upon an exchange rate of $1.33 on October2, 2017). This was followed by the commencement of management control and integration of the combined businesses upon receipt of clearance from the European Commission on October6, 2017.
About AXIS CAPITAL HOLDINGS LIMITED (NYSE:AXS)
AXIS Capital Holdings Limited is a holding company for the AXIS group of companies. The Company provides a range of specialty (re)insurance, through subsidiaries and branch networks- based in Bermuda, the United States, Canada, Europe, Australia and Singapore. It operates in two segments: AXIS Insurance and AXIS Re. Its insurance segment operates through offices in Bermuda, the United States, Canada, Europe, Australia and Singapore and offers specialty insurance products to various markets. Its insurance segment’s offerings include property, marine, terrorism, aviation, professional lines, liability and accident and health. Its reinsurance segment operates through offices in Bermuda, the United States, Switzerland, Singapore, Brazil, and Canada. The reinsurance segment provides non-life reinsurance to insurance companies. Its reinsurance segment’s offering include catastrophe; property; professional lines; credit and surety; motor; liability; engineering, and agriculture.
