MUNICH, May 2 (Reuters) - Financial investor Athora

Holding has given up on plans to buy a German portfolio of

run-off life insurance policies from the French insurer AXA

, it said on Thursday.

The parties announced the sale of the portfolio, with a

volume of 16 billion euros ($17.13 billion), for 660 million

euros in 2022.

But Athora said on Thursday that financial conditions had

changed, and it had mutually agreed with AXA not to pursue the

deal.

($1 = 0.9338 euros)