CommInsure sale stalls, sold for discountBY KARREN VERGARA | FRIDAY, 23 AUG 2019 12:34PM
The Commonwealth Bank will sell its life insurance business for $150 million less than originally agreed as the sale experiences delays and regulatory roadblocks.Read more: CBA, CommInsure Life, Commonwealth Bank, AIA Group, BoCommLife Insurance Company, Carmel Mulhern, Scott Wharton, AIA Australia, APRA, China Banking, Colonial Mutual Life Assurance Society, Damien Mu, Insurance Regulatory Commission, Matt Comyn, MS&AD Insurance Group Holdings
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Moelis Australia has promoted two managing directors to joint chief executives as it announces plans to acquire a local non-bank lender, eyeing a bigger slice of the $1.8 trillion Australian residential mortgage market.
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OneVue has made a provision to write down its Sargon receivable by $26 million to just $3.9 million, dragging its first half bottom line to $27 million in losses after tax.
The director of a 'one-stop-shop' for SMSFs has pleaded guilty to 17 counts of aggravated deception and one count of dishonest dealings with documents.
The multi-asset manager has warned of the effects of climate change on investor's portfolios, urging them to assess a company's "carbon footpath" over eliminating polluters altogether.
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