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
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.
Australia has marked a decade among the best countries for retirement, according to Natixis, but with high inflation threatening their retirement goals, a third say they would get professional advice to improve their chances.
When it comes to the risks of acting as a responsible manager at an AFSL, compliance firm Holley Nethercote has shared a range of red flags that could see them facing disciplinary action from the corporate regulator.
Wealth management platform provider Netwealth has announced a partnership with FinClear to streamline trading capabilities for advisers.
