CBA stalls on motor underwriting
Commonwealth Bank’s insurance branch will announce by September whether it will underwrite motor vehicle insurance.
CommInsure is entertaining a range of options, including motor vehicle insurance, with business head Simon Swanson saying last week that a decision will be made in the next six months.
CommInsure’s portfolio of general and life insurance lines includes motor vehicle cover underwritten by Allianz.
The bank’s insurance arm was the banking giant’s under-performer for the six months to December 30, posting an 8% rise in profit after tax to $111 million. This was against 17% growth in banking and 27% in funds management.
CommInsure is entertaining a range of options, including motor vehicle insurance, with business head Simon Swanson saying last week that a decision will be made in the next six months.
CommInsure’s portfolio of general and life insurance lines includes motor vehicle cover underwritten by Allianz.
The bank’s insurance arm was the banking giant’s under-performer for the six months to December 30, posting an 8% rise in profit after tax to $111 million. This was against 17% growth in banking and 27% in funds management.