MetLife, AIA said to mull bids for NAB’s life insurance unit
October 17, 2014 by Brett Foley and Narayanan Somasundaram
(Bloomberg) — AIA Group Ltd. and MetLife Inc. are among companies weighing bids for National Australia Bank Ltd.’s life insurance unit, which may fetch as much as AU$1.5 billion (US$1.3 billion), people with knowledge of the matter said.
National Australia, the nation’s largest lender by assets, is working with JPMorgan Chase & Co. on the possible disposal of the insurance business run by its MLC Ltd. unit, said the people, asking not to be identified as the details are private. It hasn’t made a final decision to sell the division, they said. Click here to read…