Axa in negotiations in the UK
business, economic, online, people, world June 14th, 2010It is not yet signed, but it seems on track. Axa is at least in advanced negotiations to sell much of its life insurance business in the UK group Resolution, amounting to about 2.8 billion pounds or 3.5 billion Euro. The French group would retain, in addition to activities damage, life insurance and individual savings. But it would divest activities dubbed "with profits", for which subscriptions have been arrested in 2003, and foresight on line pay day loans. The operation meets the ambitions of Resolution, a group staged by Clive Cowdery, which was shown last summer with the acquisition of Friends Provident. Clive Cowdery has yet to consolidate its position on the UK market for insurance.
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