AXA to sell its European protection businesses

Sources close to the matter revealed that AXA is working with advisors regarding the sale of part of its European protection insurance business.

This could involve Genworth Lifestyle Protection Insurance, a subsidiary specializing in protection insurance that was acquired in 2015.

The transaction would include the Group's activities in France, Italy, Spain and part of the UK. The sale could be worth up to 1 billion EUR (1.1 billion USD).

The French insurer declined to comment.