Global Insurance Management sold to Axa

French financial services giant Axa Group has acquired UK-based Global Insurance Management (GIM) in a transaction led by Initium.

Based in Coventry, GIM is one of the UK’s leading insurance specialists – providing a comprehensive range of insurance and non-insured products to dealer groups, franchised dealers, manufacturers, bank and affinity partners.

Axa and GIM have been working together for nearly 40 years, with the Paris-based banking and insurance firm underwriting GIM’s automotive product range.

Managing Director of GIM, John Gilbert, said: “Our reputation for delivering profitable, compliant, sustainable insurance solutions for leading brands led to us becoming the worldwide centre of warranty excellence for the AXA Group, and today’s announcement means an even brighter future for Global and our clients.”