Axa acquires Swiftcover

Axa UK has acquired online insurer Swiftcover. Peter Hubbard, chief executive at Axa, commented: "We are extremely pleased to have agreed terms for the purchase of Swiftcover, which further strengthens our distribution platform and gives us greater access to personal lines customers. We have underwritten a significant proportion of Swiftcover's business since its launch, and know the potential of this franchise." The company will continue to trade under the swiftcover.com brand.