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AXA explores options for European asset management arm: Bloomberg
September 14, 2017 / 5:50 PM / 10 days ago

AXA explores options for European asset management arm: Bloomberg

FILE PHOTO: Logos of France's biggest insurer Axa are seen on a building in Nanterre, near Paris, March 8, 2016. REUTERS/Christian Hartmann/File Photo

(Reuters) - French insurer AXA (AXAF.PA) is reviewing options for its European asset management business, Bloomberg reported on Thursday, citing sources close to the matter.

AXA, Europe's second-largest insurer, is looking at either a merger for the business or a joint venture, with Natixis (CNAT.PA) said to be among the potential partners, Bloomberg said. (bloom.bg/2xnCo0r)

The company has not made any final decision and could yet retain the business, Bloomberg said.

The French insurer said in May that it planned to list its U.S. life insurance and asset management business in 2018 to free up capital and pursue takeover targets elsewhere.

A spokesman for AXA declined to comment on the report.

Reporting by Philip George in Bengaluru; Editing by David Goodman

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