Commonwealth Bank (ASX:CBA) completes sale of CommInsure to AIA Australia

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03Apr

Commonwealth Bank (ASX:CBA) completes sale of CommInsure to AIA Australia

 

Commonwealth Bank (ASX:CBA) has completed the sale of its Australian life insurance business, CommInsure Life to AIA Australia.

The bank received approximately $2.4 billion for the sale including the final installment of $100 million.

The sale follows the company looking to focus on their consumer banking business.

Shares in Commonwealth Bank (ASX:CBA) are trading 0.3 per cent lower at $85.83.

Copyright 2021 – Finance News Network


Source: Finance News Network

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