Australian insurer Suncorp Group sells its New Zealand life insurance business to Resolution Life for NZ$410 million ($246.53 million), leading to a surge in its shares.
Australian insurer Suncorp Group has announced the sale of its New Zealand life insurance business to Resolution Life for NZ$410 million ($246.53 million). This move has caused Suncorp 's shares to reach a 16-year high.
The sale is part of Suncorp's strategy to reshape the company and focus on its more profitable general insurance operations.
Suncorp Insurance New Zealand Resolution Life Shares
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