The French multinational insurance firm which is headquartered in Paris has brought in advisers to assist with the deal, the reports said.
The firm is said to have become discontent with the “UK’s regulatory environment” and called in Barclays and Fenchurch Advisory Partners to manage the sale.
AXA sold the majority of its UK life insurance business Axa Sun Life in 2010 to Clive Cowdery’s insurance investment firm Resolution. The firm later changed names to Friends Life and was acquired by Aviva last year.
AXA and Barclays declined to comment, while Fenchurch Advisory Partners were not available for a comment.
