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Axa in talks for sale of Hong Kong Swiss Privilege franchise

French insurer AXA SA said Aug. 1 that it is in talks with potential buyers for the sale Axa Wealth Management (HK) Ltd., its Swiss Privilege franchise in Hong Kong, after its sale transaction for the unit with a Hong Kong-based buyer fell through.

The statement came after Jeneration Holdings Ltd. on March 22 terminated a deal to buy Axa Wealth Management (HK) for HK$2.2 billion.

AXA expects to finalize a new sale agreement in the second semester, the company said in its first-half business update.