Westpac exits life insurance with $660 mln sale to Japan’s Dai-ichi
Westpac Banking Corp (WBC.AX) on Monday became the latest Australian firm to retreat from the life insurance sector, as it agreed to an A$900 million ($660 million) sale of its domestic unit to Japan’s Dai-ichi Life Holdings (8750.T).
Australian wealth manager AMP to revamp financial advice model
Australia’s AMP Ltd (AMP.AX) said on Monday it would move to a new form of financial advice model for clients, marking a shift in the troubled wealth manager’s advice operations as it embarks on a demerger from its infrastructure and property units.
