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.
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.