Commonwealth Bank (ASX:CBA)
has completed the sale of its Australian life insurance business, CommInsure Life to AIA Australia.
The bank received approximately $2.4 billion for the sale including the final installment of $100 million.
The sale follows the company looking to focus on their consumer banking business.
Shares in Commonwealth Bank (ASX:CBA)
are trading 0.3 per cent lower at $85.83.