French insurer AXA is in talks to possibly acquire a health insurer in Brazil, O Estado de S. Paulo reported.

Three Brazilian companies are under consideration, though negotiations are more advanced with one of them, the report claimed without naming any of the potential targets.

Within the health insurance space, NotreDame Intermédica, Prevent Senior, Golden Cross and Hapvida are frequently touted as potential M&A targets, the publication noted.

AXA currently operates in Brazil through AXA Seguros SA, which offers general liability and group life products, among others.