Australia’s Suncorp sells life insurance unit to Japan’s Dai-Ichi for $540m

FILE PHOTO: Trams pass by Melbourne's city skyline in Australia's second-largest city, June 13, 2017. REUTERS/Jason Reed/File Photo

Australia’s Suncorp Group is selling its life insurance division to Dai-ichi Life Holdings for $540 million, making the Japanese firm Australia’s biggest in a sector that domestic companies are scrambling to quit.

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