It’s just 10 days since Japanese life insurance giant TAL Dai-ichi Life snapped up a pre-bid stake in Challenger, the annuities and funds management business capitalised at $5.6 billion on the ASX.
Now Street Talk’s got the goods on another local life insurer – albeit at the smaller end of town –looking for a new owner. Privately-owned NEOS Protect is understood to have mandated Bank of America’s financial services bankers to run a two-stage auction, collecting first round offers last week.
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