French insurer AXA S.A. is said to be in talks to buy Winterthur Insurance from Credit Suisse Group, Zurich.

According to published reports in the New York Times, Wall Street Journal, and other sources, Credit Suisse wants to sell Winterthur, a 130-year-old company selling life, pension and other insurance around the world, including the U.S., for around $8.1 billion.

Earlier reports suggested Credit Suisse might take Winterthur public, but the company changed its mind when the financial markets turned volatile, according to the New York Times.