Bidders line up for Axa insurance sale

Lloyds Banking Group’s private equity arm is understood to be among bidders for a £50 million employee benefits company being sold by insurer Axa.

LDC, the buyout business of partly taxpayer‑owned Lloyds, is understood to be up against private equity rival ECI Partners in the auction for Bluefin.

Analysts said that, if successful, both LDC and ECI would be expected to back a Bluefin management buyout led by chief executive Nick Burns.

Also in the running to take over the business are insurance brokers Aon and JLT Group.