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.

Related News:

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.




Related Content

CommBank continues to defy negativity

Negative media and royal commissions may not be the large factor they are presumed to be, with the latest Roy Morgan Customer Satisfaction Awards plac...Read more

Key CBA executive departs

The Commonwealth Bank’s group general counsel and group executive, Group Corporate Affairs, Anna Lenahan is leaving the big banking group.She is the...Read more

CBA acting on RC advice recommendations: Comyn

The Commonwealth Bank (CBA) has expressed its total support for Banking Royal Commissioner Kenneth Hayne’s recommendations and signalled how it is a...Read more

Author

Comments

Comments

This is an unsurprising move. A purchase by an institution with a lower required RoE should be a good outcome for CBA and policy holders alike.

Add new comment