Suncorp delays completion date for sale of Australian life insurance business

Company News

by Anna Napoli

Suncorp (ASX:SUN) has today announced it is now targeting the 28th of February 2019 as the completion date for the sale of its Australian life insurance business.

The Group signed a share sale deed with TAL Dai-ichi Life Australia in September which targeted a completion date of this year's end.

The new date reflects Suncorp's latest expectation regarding the timing of regulatory approvals for the transaction,

The company has pushed back its EGM previously scheduled for December to seek shareholder approval for the pro-rata return of capital and share consolidation until after completion of the sale.

Shares in Suncorp (ASX:SUN) are down 1.61 per cent to $13.78.

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.