Forvis Mazars Supports AXA in the Acquisition of Prima Assicurazioni
Forvis Mazars assisted AXA, a global leader in the insurance sector, acting as advisor for the Buy-side Financial Due Diligence in the acquisition of a 51% stake in Prima Assicurazioni, the leading direct insurance operator in Italy, for a total value of €500 million.
The acquisition will significantly strengthen AXA’s position in the Italian market, nearly doubling the size of its Auto business and consolidating its presence in the direct distribution channel. In 2024, this channel generated €3.5 billion in premiums across eight geographic areas, with leadership positions in four of them.
About AXA
The AXA Group is a worldwide insurance leader with over 154,000 employees serving more than 95 million customers in 50 countries. In 2024, AXA reported IFRS 17 revenues of €110.3 billion and an IFRS 17 operating profit of €8.1 billion.
About Prima Assicurazioni
Prima Assicurazioni is the leading direct insurance operator in Italy, functioning as a Managing General Agent (MGA). The company leverages a proprietary technological platform to distribute its products through price comparison websites, its own website, and a network of over 1,500 multi-mandate agents. In 2024, Prima generated gross written premiums of €1.246 billion in Italy and has recently begun expanding internationally into Spain and the United Kingdom.
Forvis Mazars’ Role
Forvis Mazars provided comprehensive support to AXA throughout the financial evaluation of Prima Assicurazioni by leading the Buy-side Financial Due Diligence process. The team, comprising professionals from both Italy and France, worked closely together, combining cross-disciplinary expertise to deliver accurate analysis and coordinated assistance throughout all phases of the due diligence.
This collaboration enabled AXA to submit a well-founded binding offer, reinforcing the Group’s growth strategy in the Italian insurance market and beyond.
The Italian team, led by Massimo Adelfio, includes Caterina De Angelis, Maurizio Galati, Sara Pagani, Silvia Panebianco, and Yuri Iaia. The French team, led by Zied Loukil, is composed of Jessy Coulon, Zornitsa Rushkova, Antoine Charrier Di Fiore, Sylvia Yang, and Sénévo Léonard Agbedjinou.