PARIS: French insurer AXA (CS.FR) to sell its lifestyle protection insurance business for about $510 million.
Genworth expects an after-tax loss of about $310 million in the second quarter of 2015 related to the expected sale and pension settlement costs, the U.S. company said.
Lifestyle protection insurance helps policyholders cover debt obligations after severe events such as accidents, illness or job loss prevent them from meeting payments.
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