Westpac Allianz Insurance Deal
Westpac chief executive Peter King said the transaction was another step towards his goal to simplify the bank, while continuing to help customers with general insurance needs. The $725m sale price, a multiple of 1.3 times last financial year’s gross written premium for the business, is estimated to result in a small post-tax gain in the current financial year and add almost 12 basis points to Westpac’s common equity Tier 1 capital ratio.
“General insurance is important for many Australians and we are pleased to be entering a long-term partnership with a global insurance expert to continue to help our customers protect the things they value,” Mr King said.
While you’re on your phone or laptop, would you like a crash course on cybercrime and how you can be protected? If the answer is
NM Insurance has announced a new agency agreement for NM Insurance Pty Limited (NM), with Zurich Australian Insurance Limited (ZAIL) across Australia and New Zealand, replacing AIG as
Guidance for Corporate travel insurance clients following upgraded travel warnings This information is current as at 19th March 2020 and replaces any previous guidance issued.
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