BOQ terminates sale of St Andrews to Freedom

10 December 2018
| By Mike |
image
image
expand image

The sale of St Andrew’s Insurance to Freedom Insurance Group is off.

The Bank of Queensland has announced to the Australian Securities Exchange (ASX) that the agreement to sell St Andrew’s to Freedom has been terminated.

It said the decision to terminate was mutually agreed with Freedom after it became clear that the conditions of the transaction would not be satisfied within the time limited contained in the sale agreement.

Bank of Queensland said that following the termination of the agreement it would continue to assess its strategy in relation to St Andrew’s and that in the meantime the insurance business continued to be strongly capitalised and remained focused on delivering for its customers and corporate partners.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 5 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

17 hours 41 minutes ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 3 days ago