Talks between N.M.L.A. and Comm. Union
PA Wellington The Commercial ' Union Assurance Company of New Zealand, Ltd, (Commercial Union of New Zealand) and the National Mutual Life Association of Australia, Ltd,! (National Mutual) say that discussions are taking place for Commercial Union of
New Zealand acquiring the! New Zealand business of 1 National Mutual’s fire and: general insurance subsidiary, ; and National Mutual acquit-! ing the life business of Com-• mercial Union of New Zealand. Subject to the successful; ■ outcome of these discussions Commercial Union Assurance Company, Ltd, of London (C.U. London), Commercial Union of New Zealand’s parent company, expects that National Mutual will acquire a half-interest in Commercial Union of New Zealand. An exchange of directors between Commercial Union of New Zealand and National Mutual in New Zealand is : intended. I Similar arrangements are : under discussion between • C.U. London and National Mutual in Australia. I All these proposals are , subject to agreement being reached on financial considerations and to obtaining all appropriate consents.
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Press, 30 August 1979, Page 19
Word Count
163Talks between N.M.L.A. and Comm. Union Press, 30 August 1979, Page 19
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