Business
ASX 200 flat on Wednesday
The S&P/ASX 200 Index (ASX: XJO) was almost flat today, rising slightly to 6,590 points.
Here are some of the highlights from the ASX:
Westpac Banking Corp (ASX: WBC)
Westpac revealed today that it is going to sell Westpac General Insurance Limited and Westpac General Insurance Services Limited to Allianz and enter into an exclusive 20-year agreement for the distribution of general insurance products to Westpac’s customers.
The sale price of $725 million represents a multiple of 1.3x FY20 gross written premium and is estimated to result in a small post-tax gain on sale in FY21. The sale of the general insurance business adds around 12 basis points to Westpac’s common equity tier 1 (CET1) capital ratio.
The transaction also…
-
Noosa News22 hours agoTrial for Clive Mensink, former director of Queensland Nickel, delayed due to ‘exceptional circumstances’
-
Business20 hours agoHow to build a $250,000 passive income portfolio starting from zero
-
Business23 hours ago4 reasons to buy Woolworths shares today
-
Noosa News19 hours agoDrivers call out bad manners and most hated acts on Queensland roads