Axa sells UK business to Phoenix Group, to book 400 mln euro loss

May 27, 2016 5:38 AM

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PARIS May 27 French insurance company Axa said on Friday it had agreed to sell its UK investment and pensions business and its direct protection business in the UK to Phoenix Group Holdings.

Axa said the sale of its UK Life & Savings businesses, including the transaction announced today, the sale of the offshore investment bonds business based in the Isle of Man announced on April 28, and the sale of the wrap platform Elevate announced on May 4 would raise a total of about 632 million p...

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