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AXA Agrees To Sell Some U.K. Operations

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AXA, Paris, says it will sell its traditional life and pensions businesses, its independent financial advisors protection and corporate pension businesses, and its annuity businesses in the U.K for about $4 billion to Resolution Ltd., London.

“This sale is consistent with AXA’s intention to focus on growing its wealth management business in the U.K. life and savings market,” AXA said in a statement. “This potential transaction does not call into question the AXA Group’s continuing long-term commitment to the U.K. market.”