The reports say Barclays has been appointed by Axa to handle the sale on its behalf. Sources said the sale began over three months ago and while parts of the business may be attractive, selling it as a whole has proved difficult.
A spokeswoman for Axa Group told International Adviser: “We do not comment on market speculation.”
Axa operates a range of business in the UK, including Axa Wealth, which includes investment manager Architas and the platform Axa Elevate, the private medical insurer Axa PPP Healthcare, and the general insurer Axa Direct and Partnerships.
Axa Wealth saw its fund under management (FuM) grow 9% to reach £28.8bn ($44.3bn, €39.5bn) over the 12 months to 30 June 2015, while retail sales rose by 3% to reach £1.8bn.
Its wrap platform saw FuM total £10bn, up 20% from £8.4bn, while FuM for its SIPP and investment platform grew by 4% to £18.2bn.
Assets also increased for the group’s multi-manager investment business, Architas, rising 5% to £14bn from £13.3bn.