Axa XL has agreed to acquire the remaining shares in risk advisory firm S-RM, having previously held a 49% stake.

S-RM, founded in 2005, provides corporate intelligence, cyber security and crisis response services to businesses and investors in more than 140 countries. The company will become part of Axa XL Risk Advisory, the insurer's risk advisory business.

Libby Benet, CEO of Axa XL Risk Advisory, said: "S-RM brings highly complementary expertise that will strengthen our advisory capabilities and broaden our offering. By bringing together our risk consulting teams, S-RM’s geopolitical intelligence and crisis response expertise and the technology-enabled solutions of the Axa Digital Commercial Platform, we will be able to help clients build deeper resilience across a wider spectrum of risks.”

Heyrick Bond-Gunning, CEO of S-RM, added: "S-RM has worked closely with Axa XL for over 15 years, both as a client and as an investor. This transaction will allow us to continue investing in our prevention services for existing clients, while expanding the reach of those capabilities.”

The transaction is subject to regulatory approvals and other customary closing conditions. Completion is expected by the end of September.

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