Axa 'planning to sell more UK operations'
Insurance firm Axa is planning to withdraw from a number of its UK operations, according to reports.
The French giant is believed to appointed advisers from both Barclays and Fenchurch Advisory Partners as it gears up for the sale.
The group, which sold the majority of its British insurance operations half a decade ago, is believed to have grown fed up with UK industry regulations, City sources told the Sunday Times. Profitability of the UK operations is also said to have been an issue.
It its latest set of half-year results, published in August, the group posted a 7% drop in net income to €3.1bn, although revenue climbed 2% to €55bn at constant currency.