:Westpac Banking Corp on Monday became the latest Australian firm to retreat from the life insurance sector, as it agreed to an AUS$900 million sale of its domestic unit to Japan's Dai-ichi Life Holdings.
Companies including conglomerate Macquarie Group, insurer Suncorp Group Ltd and wealth manager AMP Ltd have cut their exposure to the sector in the last five years.
Source: Financial Digest (financialdigest.net)
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