ÌìÃÀÍøÕ¾´«Ã½´«Ã½

Two of the world’s largest insurers are weighing the sale of businesses in the United Kingdom, according to people familiar with the matter.

American International Group Inc. is working with advisers to explore a sale of its life-insurance unit in the country, in a deal that could fetch more than £500 million ($646 million), the people said. Separately, AXA SA is reviewing options for its UK protection business including a possible disposal, they said.

Both transactions are at an early stage and may not lead to a sale, said the people, who asked for anonymity to discuss the private information. Representatives for ÌìÃÀÍøÕ¾´«Ã½´«Ã½ and AXA declined to comment.

Dealmaking in insurance has remained relatively buoyant despite a broader slowdown in mergers and acquisitions, as insurers continue to streamline their operations and exit business lines to reallocate capital to their focus areas. In one recent example of deals in the industry, Assicurazioni Generali SpA last month agreed to buy a group of European businesses from Liberty Mutual Holding Co. for €2.3 billion ($2.6 billion).

AXA is currently also reviewing alternatives for its reinsurance division including a sale or listing, according to people familiar with the deliberations. Led by Thomas Buberl, the French company did one of the biggest M&A in the past five years in financial services with the $15.3 billion acquisition of XL Group Ltd., which resulted in increased exposure to the volatile business of reinsuring natural catastrophe risks.

Topics ÌìÃÀÍøÕ¾´«Ã½´«Ã½ AXA XL