Axa mulls disposal of US life reinsurance unit

French insurer Axa is reportedly exploring the sale of its US subsidiary Axa Corporate Solutions Life Reinsurance.

The insurer is believed to be working with Morgan Stanley to evaluate its options for disposing of the unit.

The French group has sold off a number of other units in recent years as it focuses more on growth in emerging markets. Last year, Protective Life paid $1.06 billion for Axa’s MONY Life Insurance.

Axa Corporate Solutions Life Reinsurance backed policies that promise so-called guaranteed minimum death and income benefits, which promise a certain pay-out. The operation stopped underwriting new business in 2002.