Following announcements that Swiss Life is to exit the UK life insurance and protection market, a report has appeared in an industry newspaper, Money Marketing, that Axa Group (the giant French financial Group), are in talks with Swiss Life to purchase their UK book.
Our view
Axa has a strategy to be one of the biggest insurance houses in the UK. This move, if it is true, would appear a logical step given that the Swiss Life protection business was a sound one. Buying "clients" appears to be the strategy of a number of players at the moment.Search the news archive for more on Axa or Swiss Life.