Deutsche Bank AG, Germany's largest bank, is considering the sale of a unit that helps pension funds protect themselves against the risk of their members living longer than expected, according to people familiar with the discussions.

No decision has been taken on the potential sale of the Abbey Life unit, said the people,who spoke on condition of anonymity because the matter is private. The Bournemouth, UK-based business may fetch as much as 3 billion pounds ($4.6 billion), one person said.

Anke Hallmann, a spokeswoman for Frankfurt-based Deutsche Bank, declined to comment.