Login Register Subscribe
Current Issue

Australia's Wesfarmers gets regulatory clearance for insurance unit sale to A.J. Gallagher


Wesfarmers Ltd. said it has received all regulatory approvals to sell its insurance broking and premium funding operations for $1 billion Australian ($938 million) to U.S.-based Arthur J. Gallagher & Co., The West Australian reported.

The transaction is expected to be settled on or before Jun. 30. The retail firm will get a distribution of around AUD 150 million to repay funding of the premium funding units, reports The West Australian.

Read more