ANZ announced the sale and 20-year strategic alliance with Cigna Corporation on May 30.
It said the divestment was consistent with ANZ’s strategy to simplify its business. ANZ’s investment management business in New Zealand was not part of the sale.
Cigna is a health services company with 95 million customers around the world. In New Zealand it offers insurance products online and through direct marketing and also provides insurance products for partner companies. Cigna has been one of ANZ’s insurance partners for more than 20 years.
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