Regulators Approve £375 million AXA-Phoenix Acquisition Deal

Back in May, Axa announced its plans to sell its SunLife and its Embassy pensions and investment business in Britain to Phoenix Group. The deal is now approved and the exact acquisition sum is £375 million. Meanwhile it isn’t clear what will be of the Anbang-slash-Fidelity & Guaranty Life acquisition. Recall: late last year China’s Anbang Insurance Group announced its plans to acquire the US insurer for ~$1.57 billion. (BTW – the same Anbang that purchased the New York Waldorf Astoria hotel for $1.95 billion), however, a few months later the Anbang has withdrawn its application after failing to provide information requested for processing the deal. No news since.