AIA sees growth opportunities in lifting insurance cover in CommInsure, Sovereign buy

Thu, 21 Sep 2017

By Paul McBeth Sept. 21 (BusinessDesk) - AIA Group, the Hong Kong stock exchange-listed life insurer, wants to beef up life insurance cover across Australasia and broaden its distribution networks with the A$3.8 billion purchase of Commonwealth Bank of Australia's life insurance businesses. The Hong Kong-based company today agreed to buy CBA's CommInsure Life and Sovereign Assurance and sign up to a 20-year partnership where the bank will keep selling those products. The acquisition, which is subject to regulatory approval on both sides...

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