CBA flags divestment of insurance businesses
The Commonwealth Bank has flagged the sale of its life insurance business in Australia and New Zealand.
The company has used the release of its full-year results to the Australian Securities Exchange today to state that it was “in discussions with third parties in relation to their potential interest in our life insurance businesses in Australia and New Zealand.
The announcement said the outcome of the discussions was uncertain and while they might lead to the divestment of the business, the bank would also consider a full range of options.
Recommended for you
ASIC has issued infringement notices to two AFSLs over financial advisers providing personal advice while they were unregistered.
Australian retirees could increase their projected annual incomes by as much as 51 per cent through comprehensive financial advice, according to a Vanguard study, but cost continues to be an issue.
AMP has announced a senior appointment to its North leadership team, reinforcing the firm’s commitment to the advice industry.
Despite the financial adviser exam being rooted in ethics, two professional year advisers believe the lack of support and transparency from the regulator around the exam is unethical.
