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AXA's attempt to exit part of its struggling U.K. business should be welcomed by investors, experts say.
The French insurer is said to be considering selling most of its U.K. life insurance and wealth-investment units to separate bidders in deals potentially raising between £500 million and £700 million.
Elevate, AXA's platform for assisting independent U.K. financial advisers manage clients' investments, has reportedly received a bid from Standard Life Plc.
Meanwhile, AXA is said to be in talks with other parties to sell SunLife, another one of its U.K. assets. The SunLife business provides life insurance and funeral-costs coverage for people 50 years of age or older, and some investment-fund activities.
CM-CIC Securities' Pierre Chedeville said in an interview that AXA is right to consider selling the U.K. businesses given their...