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Wesfarmers exits insurance industry with sale of assets including NZ’s Crombie Lockwood
By Suze Metherell April 7 (BusinessDesk) – Wesfarmers has agreed to sell its broking and premium funding units for A$1 billion to Arthur J. Gallagher & Co, the New York stock exchange-listed insurer, completing the Australian company’s exit from the insurance industry. Wesfar...
NZ house values rise at the slowest annual pace in six months in March, QV says
April 7 (BusinessDesk) – New Zealand property values increased at the slowest annual pace in six months in March as lower Christchurch valuations, high-debt lending restrictions and interest rate hikes weighed on the market. House values rose at an 8.8 percent annual pace in Ma...
Perpetual Trust to merge with Guardian Trust in $68.5 mln Milford Asset-backed deal
April 7 (BusinessDesk) - Perpetual Trust will merge with trustee company Guardian Trust after Australian investment manager Perpetual, an unrelated firm, sold Guardian for $68.5 million. Newly formed Complectus bought Guardian Trust and will integrate the firm’s assets with Pe...
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