Zurich announced that it has entered into an agreement to acquire 100% of ANZ’s (Australia and New Zealand Banking Group) life insurance businesses, OnePath Life, in Australia for $2.14bn. On a pro forma basis, the operations to be acquired reported net earned premiums for the 12 months ended 30 September 2017 of $1.1bn and a net profit after tax of $142m. The acquisition is expected to be funded through a mixture of Zurich’s internal cash resources and senior debt, and is expecte
12 Dec 2017
Zurich becomes life insurance no. 1 in Australia
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Zurich becomes life insurance no. 1 in Australia
Zurich Insurance Group Ltd (0QP2:LON) | 0 0 0.1% | Mkt Cap: 46,293m
- Published:
12 Dec 2017 -
Author:
Dieter Hein -
Pages:
2
Zurich announced that it has entered into an agreement to acquire 100% of ANZ’s (Australia and New Zealand Banking Group) life insurance businesses, OnePath Life, in Australia for $2.14bn. On a pro forma basis, the operations to be acquired reported net earned premiums for the 12 months ended 30 September 2017 of $1.1bn and a net profit after tax of $142m. The acquisition is expected to be funded through a mixture of Zurich’s internal cash resources and senior debt, and is expecte