BUZZ-Phoenix: Buys some of Axa's UK units
** Life insurer Phoenix Group's shares up 2.1 pct, top FTSE mid-250 index gainer, after saying it will buy Axa (Paris: FR0000120628 - news) 's UK investment, pensions and direct protection businesses
** Co, Britain's largest owner of life assurance funds closed to new customers, says deal worth 375 mln stg
** Co sees net capital synergies of 250 mln stg from deal, cashflows of about 300 mln stg between 2016-2020 and 200 mln stg thereafter
** Stock top of the Stoxx 600 Insurance Index, with a fifth of its daily avg vols gone through in the first hour of trade, and sixth-largest gainer on the Stoxx 600 (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)