By Inti Landauro

PARIS--French insurance giant AXA SA (CS.FR) Monday said the sale of its U.K. unit Bluefin Insurance Group Ltd. to Marsh will have an 82 million euro ($86.3 million) negative effect on its 2016 net profit figure.

The negative effect will be bigger than the EUR66 million AXA had originally estimated when it said in November it had agreed to sell its Bluefin unit for GBP295 million ($364.2 million).

AXA said on Monday it had completed the sale.

Marsh, a insurance broking and risk management company, is a subsidiary of Marsh & McLennan Cos.

Ambroise Ecorcheville contributed to this article.

-By Inti Landauro at Inti.Landauro@wsj.com

(END) Dow Jones Newswires

January 02, 2017 03:53 ET (08:53 GMT)

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