CBA sells tarnished life business and Sovereign at a $A300m loss
The CommInsure sale will staunch the reputational damage.
Commonwealth Bank is selling its troubled Australian insurance arm CommInsure Life and its New Zealand counterpart, Sovereign, at a $A300 million loss over book value.
Hong Kong-based AIA Group, which has operations throughout the Asia Pacific region, is paying $A3.8 billion for the two
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Jenny Ruth
Thu, 21 Sep 2017
Thu, 21 Sep 2017
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CBA sells tarnished life business and Sovereign at a $A300m loss
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