The National Australia Bank (NAB) won’t be outsourcing its Australian commercial insurance operations, despite plans to do just that in the UK.

The company says news that the group’s British insurance arm – including subsidiaries Clydesdale, Yorkshire and Northern banks – is to be handled by Axa will not affect the way the group operates in Australia.

Spokesman Zoe Viellaris told Sunrise Exchange News the move is indicative of “strategic alliances” in the UK. “The strategy is to drive growth in the UK through mutually beneficial relationships.”

It’s not the first move NAB has undertaken to reduce its risk workload. Last year the bank announced a partnership with Legal and General and Junction to offer life products and administration services for its domestic portfolios.