Protective Life To Buy AXA U.S. Life Portfolio For $1 Billion

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Reuters reports:

Protective Life Corp. agreed to buy a portfolio of old policies from French insurer AXA SA’s U.S. business for $1.1 billion, with the aim of squeezing more value out of them.

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The transaction does not affect AXA Equitable’s employees or operations in Connecticut, the company said. AXA Equitable has 196 employees in Connecticut and 67 financial professionals, or agents. The company’s wholesale life operations are in Farmington and AXA Equitable also has a branch office in Stamford.

About Matthew Sturdevant

Full-time staff journalist at The Hartford Courant and magazine freelancer with a master's degree in writing from Dartmouth. My work has appeared in The Los Angeles Times, The Chicago Tribune, Taiwan News, The Baltimore Sun and many other news sources. My blog has been referenced by Politico.com, the Kaiser Family Foundation, the Georgetown Law Library and a number of organizations in healthcare and business. Sturdevant’s blog is "a well-written wealth of ideas," said The Donald W. Reynolds National Center for Business Journalism, (businessjournalism.org, May 18, 2011). I have experience writing for newspapers, magazines, Web sites and blogs as well as shooting and editing video. I made regular appearances on news-talk radio and on the NBC affiliate station in Corpus Christi, Texas. I made occasional appearances on the Fox affiliate in Connecticut promoting Hartford Courant articles.

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