Current Affairs - Banking - Discussion

Discussion Forum : Banking - Latest Current Affairs (Q.No. 2014)

2017-09-22 Banking

2014.

Australia's largest bank, "Commonwealth Bank of Australia" will sell its life insurance unit to Hong Kong-based AIA Group for

$5 billion

$4 billion

$3 billion

$2 billion

Answer: Option

Explanation:

Hong Kong-based AIA Group has agreed to buy the life insurance unit of Australia's largest bank, "Commonwealth Bank of Australia", for $3 billion. This acquisition would make AIA the biggest life insurer in Australia and New Zealand, with 13 million customers.