BOQ bank of queensland limited.
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BOQ sells insurance business for $65M

  1. FNN News
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    17/04/18
    10:32
    Post #: 32500581
    .

    Bank of Queensland(ASX:BOQ) has inked a deal to sell its St Andrews insurance business to Freedom (ASX:FIG) insurance group for $65 million.

    The company will also enter into an exclusive 3 year distribution agreement with Freedom for the provision of life insurance products to BOQ’s customers.

    Freedom is a publicly listed life insurance company.

    BOQ says the deal makes strategic sense for both parties.

    The company has also reported an 8 per cent rise in first half net profit to $174m.

    Shares in Bank of Queensland (ASX:BOQ) are trading 3.11 per cent lower to $10.58
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