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Report: AXA plans sale of UK units

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Report: AXA plans sale of UK units

is in talks to sell asizable portion of its U.K. life insurance and wealth investment units,collectively known as AXA Wealth, to separate bidders, Bloomberg News reportedApril 12, citing "two people with knowledge of the matter."

Thesources said the sales could fetch £500 million to £700 million, with dealspotentially to be reached by the end of April. is poised to bid forAXA's Elevate platform, the sources added.

AXAis also in talks with other potential bidders for its U.K.-based SunLifebusiness, which provides life insurance and funeral cover for over-50s, as wellas for investment fund activities on the Isle of Man, Bloomberg noted.