By Andrea Mandala MILAN (Reuters) -France’s AXA and Credit Agricole are set to submit by the end of the week binding bids for an insurance deal with Italy’s Banco BPM after emerging as the lead contenders in the race, two people close to the matter said. The accord to distribute non-life products through the branches of Italy’s third-largest bank is worth around 300 million euros ($296 million), the sources said. The price tag was higher before Banco BPM in August decided to hold onto its life insurance business, after acquiring full control of the venture by buying out its previous partner Co…