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Fair weather lifts CommInsure

Commonwealth Bank’s general insurance arm CommInsure has posted a 51% jump in income to $183 million for the year to June 30.

It says lower weather-related claims were a key factor in the result.

Overall insurance income on a cash basis grew 31% to $293 million.

The bank announced in June a strategic review of its general insurance business, which may lead to a potential sale of the operations.