Axa, intent on assets cession in the United States

Axa is ceding its life subsidiary Mony Life to Protective Life Insurance in a transaction amounting to 1.06 billion USD. The sale will come into force as of October 1, 2013. The distribution network of Mony Life remains the property of the French insurer. Mony Life became an entity of the AXA Group in 2004 for 1.5 billion USD, a move which allows the world's number one insurance group to finance its development in the United States in segments deemed to be rewarding.