It has been stated that the Clive Cowdery’s, Resolution is planning to buy the UK life business of French insurer, as the purchase is being discussed with AXA. The talks were confirmed by the Resolution group last night.

Earlier also, Resolution purchased Friends Provident for £1.9 billion, last year.

It is known that Resolution has been planning the purchase since months and the talks became official following the keenness indicated by the French insurer.

As per the recent reports, AXA Asia Pacific is urging the competition regulator to soften its approach on the proposed takeover of National Australia Bank's local operations.

As revealed by the AXA-AP Chairman Rick Allert, talks have been held with the Australian Competition and Consumer Commission following the blocking of its sale deal with NAB on April 19.

Mr. Allert further stated that according to all the independent directors of AXA-AP the deal of NAB deal was in the best interests of the shareholders.