PARIS (Reuters) - French insurance group Axa (>> AXA) said on Wednesday it was in talks to sell its remaining UK life and savings assets in a deal that could allow it to potentially raise 650 million pounds.

It said the transaction would generate a one-time negative net income impact of 400 million euros (315.79 million pounds).

Axa said it agreed to sell its "Elevate" wrap platform business to Standard Life (>> Standard Life Plc) and that it was also in discussions to dispose of its direct protection business, SunLife, and its traditional investment and pension business.

(Reporting by Astrid Wendlandt; Editing by James Regan)

Stocks treated in this article : AXA, Standard Life Plc