No its not the article is once again complete tosh and waffle

Axa are an insurance Company (based in France by the way not Ipswich)
Towergate are a small acquisative Insurance Broker who happen to have a chairman who has a windfall of dosh because he sold some of his shareholding to avoid the new capital gains tax.
In the current credit crunch Axa are not making a profit on the existing loan and can make better use of the money elsewhere/want a greater level of return on their investment.

Posted By: biffbro, Jul 12, 08:53:11