AXA announced that it has reached an agreement with Life Company Consolidation Group to sell its offshore investment bonds activities based in the Isle of Man (AXA Isle of Man).
The transaction is still subject to customary closing conditions and regulatory approvals. The deal is expected to be completed during the second half of 2016.
The companies did not disclose the terms and conditions of the transaction.
AXA had €1.36trn of assets under management as of 31 December 2015.
Life Company Consolidation Group focuses on the acquisition and consolidation of books of life assurance business in Europe.
For further information on offshore bonds, visit www.internationalinvestment.net