After months of denials, it was reported in Insurance Insider last week that "European insurance giant Axa has decided to sell Bluefin Insurance Group, the broking business that it spent more than £300mn building in 2007/08."
The following day, "Axa has insisted that it has no intention of selling its Bluefin Insurance Group and remains fully committed to the distribution market."
Can there be smoke without fire?
Sources suggest that an MBO is the most likely path for most of the group.
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