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's strategy to focus on their consumer banking business. Shares in Commonwealth Bank (ASX:CBA) are trading 0.3 per cent lower at $85.83.
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10 Dec 2019 - ANZ (ASX:ANZ) yesterday confirmed the Australian Prudential Regulation Authority (APRA) had approved the sale of ANZ’s OnePath Pensions & Investments business to IOOF Holdings (ASX:IFL).
