AXA Said To Look For Acquisition

AXA Financial Inc. is in the hunt for a life insurance acquisition, the company’s chief financial officer says.[@@]

AXA is looking to buy a carrier that can give it enhanced retail distribution in the U.S., according to UBS Investment Research, New York, quoting Stan Tulin, vice chairman and CFO of AXA Financial.

Speaking at a financial conference sponsored by UBS, Tulin said his company could do a significant acquisition in the industry soon.

AXA has almost completed absorbing its most recent acquisition, MONY, which closed last July, Tulin said.

Tulin told the conference his company could borrow up to $3 billion without having to raise new equity.