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[BENGALURU] Westpac Banking Corp announced Wednesday that it was selling its general insurance line for $ 725 million. AUD (715 S $) to the German insurer Allianz. 5 million. ), further reducing the portfolio to strengthen capital and focus on core banking.
Australia’s third largest bank also announced that it will sign an exclusive 20-year agreement for Allianz to distribute general insurance products to Westpac customers.
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Westpac, Allianz SE, General Insurance, ASX, Nasdaq, New Zealand Stock Exchange, Stock
World News – AU – Westpac sells general insurance for 725 million. AUD to Allianz
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Ref: https://www.businesstimes.com.sg
