Westpac has agreed to divest Westpac Life Insurance Services, its Australian life insurance business, to TAL Dai-ichi Life Australia, a subsidiary of Japan-based Dai-ichi Life Holdings, for AUD 900 million ($660 million). After completion of the deal has also entered into an exclusive 20-year agreement for providing life insurance products to its Australian customers. The […]
Bermuda-based insurance company Arch Capital Group has agreed to acquire Westpac Lenders Mortgage Insurance Limited (WLMI) from Westpac Group for an undisclosed price. The acquisition is being carried out by Arch Capital’s Global Mortgage Group. Westpac Lenders Mortgage Insurance is a captive lenders mortgage insurance (LMI) provider to Westpac. It is authorized by the Australian […]