AXA UK has revealed that the final cost of Stuart Alexander, Layton Blackham and Swiftcover, could reach £328.5m.
The two insurance brokerage firms will be combined but will maintain autonomy to develop business and maintain independent broking status. The total cash consideration paid for the firm's amounts to £58.5m.
Swiftcover, jointly owned by international insurer Primary Group and Swiftcover's management, has been bought with an upfront cash consideration of £75m with an additional potential earn out of £195m maximum over the next 4 years.
