AXA sells AXA IM to BNP Paribas in $6.34b asset deal
AXA Philippines said there will be no changes to its investment-linked life insurance funds.
AXA Group has sold AXA Investment Managers (AXA IM) to BNP Paribas for $6.34b (€5.4b) as part of its strategy to focus on core insurance operations. The deal makes BNP Paribas a long-term strategic partner and creates a combined asset management business with $1.76t (€1.5t) in assets under management, ranking amongst the top 10 globally.
AXA Philippines said there will be no changes to its investment-linked life insurance funds, with AXA IM continuing as the fund provider.
Fund names, strategies, and customer services will remain unchanged.