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Latest news about the sale of AXA Wealth
AXA announced today that it had completed the sale of its wrap platform business ‘Elevate’ to Standard Life plc, and of its (non-platform) investment, pensions and direct protection (‘Sunlife’) businesses to Phoenix Group Holdings. This follows the announcement made on 21 October for the closing of the UK offshore investment bonds business (‘AXA Isle of Man’) disposal. AXA UK Property & Casualty, Health and Asset Management (‘Architas’) operations are not part of these transactions.
AXA announced today that it had completed the sale of its offshore investment bonds business based in the Isle of Man (“AXA Isle of Man”) to Life Company Consolidation Group (LCCG).
AXA also announced that it had signed an agreement with LCCG for the disposal of AXA Life Europe Limited’s Offshore Investment Bonds business (Euro 2.2 million revenues in 2015), which was distributed and administrated by 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 early 2017. The parties agreed not to disclose the terms and conditions of the transaction.
AXA UK has agreed to sell its non-platform investment and pension business (including Corporate Trustee Investment Plan, Retirement Wealth Account, Family Suntrust and onshore bond) and its direct protection business, SunLife, to Phoenix Group Holdings. Phoenix is a FTSE 250 company with a long history in life insurance which focuses on delivering great customer service.
Right now the business continues to operate as usual, and there is nothing you need to do at this time.
We’ll continue to communicate any updates through email and through this page as and when we know more over the coming weeks and months. If you have any concerns then do get in touch - contact us.
website includes products and services from the following companies: AXA Wealth Services Limited (No.
02238458) and AXA Wealth Limited (No. 01225468). Both these companies are
registered in England and limited by shares.
Details of the companies offering specific products are
shown in the product literature.
Wealth’ and ‘SunLife’ (comprising of the companies Winterthur Life UK Holdings
Limited, AXA Wealth Services Limited, AXA Wealth Limited, AXA Trustee Services
Limited and AXA Sun Life Direct Limited) have been acquired by Pearl Life
Holdings Limited (and now form part of the Phoenix Group -
www.phoenixgroup.com). ‘AXA’ and ‘WINTERTHUR’ are trademarks that are owned by
AXA SA and will be used for a short period under a licence granted by AXA SA to
the Phoenix Group.
Pearl Life Holdings Limited is registered in
England (4560778) at 1 Wythall Green Way, Wythall, Birmingham B47 6WG. As part
of Phoenix Group AXA Wealth Limited will continue to be authorised by the
Prudential Regulation Authority and regulated by the Prudential Regulation
Authority and the Financial Conduct Authority; AXA Wealth Services Limited will
continue to be regulated by the Financial Conduct Authority. Their registered
office is 1 Wythall Green Way, Wythall, Birmingham B47 6WG.