Standard Life ‘wants to buy Axa’s Elevate’

Standard Life wants to buy Elevate, Axa’s platform for helping independent financial advisers manage clients’ investments, according to Bloomberg News.

Axa, France’s largest insurer, is in talks to sell most of its UK life insurance and wealth investment units, according to Bloomberg.

Standard Life said it doesn’t comment on “market speculation.” Axa declined to comment.

According to news reports, Axa is likely to sell parts of its businesses known collectively as Axa Wealth to separate bidders in deals that may bring in £500 million to £700 million.

The reports said Axa is also in talks with other bidders to sell SunLife, its UK business that provides life insurance and funeral cost coverage for people aged over 50 and investment fund activities in the Isle of Man.

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.