Isle of Man News - POSTED Thu 28-04-2016

AXA sells Isle of Man business

by Manx Radio

AXA sells Isle of Man business

Investment company deal confrmed

AXA has agreed to sell its Isle of Man offshore investment company to the Life Company Consolidation Group.

 

The sale, which is for an undisclosed fee, is the first of three expected deals to sell parts of AXA’s UK businesses.

AXA Isle of Man has yet to comment and it’s not known if the sale will affect local jobs.

 

It was revealed AXA Isle of Man had been put up for sale last September, alongside platform AXA Elevate and life insurance business Sunlife.

AXA Isle of Man was part of AXA’s UK wealth management division AXA Wealth. It primarily offered offshore bonds.

The Life Company Consolidation Group acquires life company books across Europe. Its main life assurance company is Harcourt Life Assurance, which is based in Dublin.

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