Axa considers selling Bluefin Advisory Services

Axa has said it is considering a sell-off of the advice business it owns, Bluefin Advisory Services.

In an a statement at the weekend in response to speculation about a sale of Bluefin, Axa said it has received "a number of expressions of interest" for the business.

The life company has appointed Fenchurch Advisory Partners to advise on the strategic options for the future of Bluefin Advisory Services.

Fenchurch will consider the prospects for the continued growth of the business under its existing ownership structure, as well as assessing and testing whether Bluefin would be better positioned under new ownership, Axa said.

Bluefin Insurance Group, the general insurance broking business, is part of Axa's Commercial Lines operation and is not part of the review, and there are no plans to bring this business "in-house", according to the insurer.

The move to consider a sell-off of Bluefin follows the disposal of Axa UK's corporate pensions business last year.