BOQ terminates sale of St Andrews to Freedom

sale/life-insurance/freedom-insurance/St-Andrew-Insurance/

10 December 2018
| By Mike |
image
image image
expand image

The sale of St Andrew’s Insurance to Freedom Insurance Group is off.

The Bank of Queensland has announced to the Australian Securities Exchange (ASX) that the agreement to sell St Andrew’s to Freedom has been terminated.

It said the decision to terminate was mutually agreed with Freedom after it became clear that the conditions of the transaction would not be satisfied within the time limited contained in the sale agreement.

Bank of Queensland said that following the termination of the agreement it would continue to assess its strategy in relation to St Andrew’s and that in the meantime the insurance business continued to be strongly capitalised and remained focused on delivering for its customers and corporate partners.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

1 week 3 days ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

1 month ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month 1 week ago

AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies. ...

3 days 3 hours ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

1 week 6 days ago

The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted. ...

2 weeks 6 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Powered by MOMENTUM MEDIA
moneymanagement logo