French insurer AXA is in talks to sell most of it UK life insurance and wealth investment units and could net up to £700m from the sale, according to reports.
Two people with knowledge of the matter have told Bloomberg that Standard Life is bidding for AXA Elevate, the firm's UK platform. According to the publication, AXA may reach agreements on the sales by the end of this month, and is also reportedly in talks with other bidders to sell SunLife, its UK life-insurance business, as well as its investment activities on the Isle of Man. Bloomberg's sources said the sale of its UK wealth business, AXA Wealth, is likely to be conducted in parts to different bidders, and could net the firm between £500m and £700m. The company's UK life busine...
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