AXA to sell its UK offshore investment bonds business based in the Isle of Man to Life Company Consolidation Group

AXA announced today that it had entered into an agreement with Life Company Consolidation Group to sell its offshore investment bonds business based in the Isle of Man (AXA Isle of Man). Completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals, and is expected to occur in the second semester 2016.
The parties agreed not to disclose the terms and conditions of the transaction.