ANZ sells OnePath Life NZ to Cigna Group for NZ$700M

Company News

by Anna Napoli

ANZ Bank (ASX:ANZ) has announced the sale of OnePath Life NZ to New Zealand insurance specialist, Cigna Corp for NZ$700 million.

The bank is expecting a gain of around NZ$50 million from the sale.

Cigna is global health service company with 95 million customers around the world.

The company says the sale includes a 20-year strategic alliance for Cigna to provide insurance solutions to for ANZ bank customers.

Shares in ANZ (ASX:ANZ) are trading 1.05 per cent lower to $27.43

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.