ANZ Banking Group is set to become the third major bank to join the Australian life insurance sell-off this week, as it consummates a deal with Swiss giant Zurich.
Street Talk understands a deal to divest the $2.5 billion unit is imminent, barring any unforseen events, and is said to include a 20 year distribution agreement between ANZ and Zurich.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Joyce Moullakis wrote on banking and finance, specialising in Investment Banking, Private Equity, Financial Services. Connect with Joyce on Twitter. Email Joyce at jmoullakis@afr.com.au
