AXA XL is set to take full ownership of S-RM, a global corporate intelligence and cyber security consultancy, in a move that will bring the two businesses closer together. AXA XL currently owns about 49% of S-RM and has agreed to acquire the remaining shares.
The transaction was announced on August 6, 2026. It remains subject to customary closing conditions, including regulatory approvals, and AXA XL expects the deal to close by the end of September 2026. S-RM will become part of AXA XL Risk Advisory, a newly created AXA XL business unit focused on prevention.
AXA XL to Acquire Remaining S-RM Shares
AXA XL has been an investor in S-RM and currently holds approximately 49% of the company. Under the new agreement, AXA XL will acquire the remaining shares and become the sole owner of S-RM once the transaction closes.
The companies have worked together for more than 15 years. Their relationship has included both an investor and client partnership, according to the announcement. Financial terms of the transaction were not disclosed. The acquisition will bring S-RM’s corporate intelligence and cyber security capabilities fully into AXA XL Risk Advisory.
S-RM Provides Corporate Intelligence and Cyber Security Services
Founded in 2005, S-RM provides corporate intelligence, cyber security and crisis response services to companies and investors. The consultancy works with clients in more than 140 countries and operates across six continents through nine international offices.
Its services cover several areas of risk management. These include cyber risk assessments, managed detection and incident response, specialist investigations, geopolitical intelligence, and integrity and reputational due diligence. S-RM also provides support during crises, helping clients respond to incidents and navigate complex situations. The company’s combination of intelligence and cyber security services gives it a broad role in helping organizations understand and respond to different types of business risk.
S-RM to Join AXA XL Risk Advisory
Following completion of the transaction, S-RM will become part of AXA XL Risk Advisory.
AXA XL created the business unit to bring together prevention-focused capabilities and provide clients with services designed to help identify and address risks. Libby Benet, CEO of AXA XL Risk Advisory, said S-RM’s capabilities complement AXA XL’s existing risk advisory services.
The combined offering will include risk consulting, geopolitical intelligence, crisis response and technology-enabled solutions through the AXA Digital Commercial Platform. The transaction will therefore bring S-RM’s specialist services together with AXA XL’s existing capabilities in risk consulting and technology.
AXA XL Sees Growing Demand for Risk Expertise
Businesses face a range of risks that can affect their operations, finances and reputation. Cyber incidents, geopolitical developments and other complex threats can create challenges for organizations operating across multiple markets. Scott Gunter, CEO of AXA XL, said clients increasingly want data-driven insights and specialist expertise to help them anticipate emerging threats and reduce risk.
The addition of S-RM to AXA XL Risk Advisory is part of the company’s strategy to expand its prevention offering. Rather than focusing only on insurance after an incident occurs, AXA XL’s prevention approach includes services intended to help clients identify and address risks.
S-RM to Continue Its Global Operations
S-RM will continue to provide its corporate intelligence, cyber security, resilience and response services following the completion of the transaction.
Heyrick Bond Gunning, CEO of S-RM, said the company has developed a long-standing relationship with AXA XL. He also said the transaction will allow S-RM to continue investing in its prevention services and extend the reach of those capabilities.
S-RM’s existing international presence will remain an important part of its operations. The company currently supports clients across more than 140 countries and maintains offices across six continents. The combination is expected to bring S-RM’s specialist expertise into AXA XL’s broader risk advisory platform.
Transaction Expected to Close by September
The acquisition has not yet been completed. AXA XL and S-RM must first satisfy the applicable closing conditions, including obtaining required regulatory approvals. AXA XL expects the transaction to close by the end of September 2026, subject to those conditions being met.
Once completed, AXA XL will move from its current approximately 49% ownership of S-RM to full ownership. The deal marks another step in AXA XL’s development of its risk advisory business. With S-RM becoming part of AXA XL Risk Advisory, the company will bring corporate intelligence, cyber security, geopolitical intelligence and crisis response capabilities together with its existing risk consulting and technology services.
