NAB invests in investment
National Australia Bank has become the county's second largest life insurer with its acquisition of most of Aviva Plc for $825 million. Adding Aviva to NAB's MLC brand will position the bank at or near the top of the superannuation/investment/wealth management market.
The deal includes strategic stakes in four financial planning groups and the Navigator sales platform. Analysts responded well to the deal, saying it was consistent with NAB’s strategy and was reasonably priced.
Source: The Age