The purchase by Suncorp, also the country's No. 6 bank, wouldbe the largest in Australia's financial-services industry sinceCommonwealth Bank of Australia bought Colonial Ltd. for A$9.6billion in 2000, data compiled by Bloomberg show. Suncorp ChiefExecutive Officer John Mulcahy last month said he'd hiredCitigroup Inc. to explore potential takeovers.
Whatever the case, says KPMG's Terblanche, all insurers need to think long and hard about growing in a sector which, unlike its product proposition, offers little security and peace of mind. "I would expect boards of all insurers to ask some very hard questions about how they are going to respond in this changing landscape," he says.
Tags:
Product Proposition
common wealth bank
Potential Takeovers
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment