AXA to sell Isle of Man business

AXA announced that it has reached an agreement with Life Company Consolidation Group to sell its offshore investment bonds activities based in the Isle of Man (AXA Isle of Man).

The transaction is still subject to customary closing conditions and regulatory approvals. The deal is expected to be completed during the second half of 2016.

The companies did not disclose the terms and conditions of the transaction.

AXA had €1.36trn of assets under management as of 31 December 2015.

Life Company Consolidation Group focuses on the acquisition and consolidation of books of life assurance business in Europe.

 

For further information on offshore bonds, visit www.internationalinvestment.net

 

ABOUT THE AUTHOR
Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

Read more from Adrien Paredes-Vanheule

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