AXA and Lockton win property portfolio deal from Covéa and Jelf

AXA has signed a deal with broker Lockton to provide insurance cover for property company Regis’s freehold property portfolio across the UK.

The contract was previously held by Covéa and Jelf.

AXA London branch manager Martyn Grime said the deal would strengthen AXA’s standing in the real estate market.

Grime added: “Real Estate is a real specialism of ours, particularly in London, and our appetite to grow further is strong. This deal with Lockton and Regis is a reflection of that specialism and I look forward to securing more deals of a similar nature and size.

“The clincher was the compelling joint proposition that Lockton and ourselves were able to deliver; the performance of our people played a key part in this.”

“They were looking for a partnership that could not only provide them with the expertise to understand the risks that their portfolio presents but could adapt and move with their expansion plans to provide sufficient capacity for future acquisitions on a long-term basis.”

Lockton partner in real estate and construction practice Mark Rose added: “The confidence that has been shown by Regis Group in our highly skilled and dedicated team is testament to our strong and well-established presence in the specialist real estate insurance market.

“Throughout the whole process, our Lockton broking and client service proposition, coupled with our innovative insurance programme design and specialist IT platform, were key differentiators that Regis Group valued greatly.”

The majority of Regis’ residential property is concentrated in the South East but its assets are spread across the UK, with a recent focus to grow in the North of England.