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The Guardian said. AXA’s UK Life and Savings business is composed of AXA Wealth and SunLife. The wealth business has completed a transformation moving from a loss-making business when it was formed in 2010, to a profitable one today. Over the last five years, AXA Wealth has more than tripled its assets under management from £15 billion to over £46 billion through its business portfolio which incorporates a number of market-leading operations in the segments in which they operate. SunLife is the market leader in the Over-50 protection market and achieved £152 million gross written premiums in 2015, having refreshed its brand to focus on bringing straightforward and affordable products to a wider customer market. The business turnaround has given AXA UK optionality which led to the announcements of its decision to deploy Architas across AXA’s European life and savings businesses, and that it has agreed to sell its (non-platform) pension and investment business and SunLife to Phoenix, AXA Wealth International to LCCG and Elevate to Standard Life, the company said. These transactions complete AXA’s Completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals. The overall consideration for the sale of the entire AXA UK Life & Savings business would amount to ca. Euro 800 million. “The disposals mean a loss of €400m for the French company, but will enable it to focus on property and casualty, health and asset management in the UK,” The Guardian added. The AXA Group is a worldwide leader in insurance and asset management, with 166,000 employees serving 103 million clients in 64 countries. In 2015, IFRS revenues amounted to Euro 99.0 billion and IFRS underlying earnings to Euro 5.6 billion. AXA had Euro 1,363 billion assets under management as of December 31, 2015. In 2015 Interbrand ranked AXA the 1st insurance brand worldwide for the 7th consecutive year. The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY. In the UK AXA operates through a number of business units including: AXA Wealth, AXA Insurance, AXA PPP healthcare, AXA Ireland and an independent distribution business Bluefin. AXA employs over 10,500 staff in the UK.]]>