The Australian bank is also said to be looking to evaluate other options such as a full or partial spin-off of the division, a joint venture, a re-insurance deal and the white-labelling of life insurance products, as reported by theage.com.au.
White-labelling option would enable NAB to market its own branded insurance policies run by other providers which would bear the capital and operational expenses.
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Dai-ichi Life, Japan-based life insurers, Nippon Life, Hong Kong’s Richard Li, Switzerland-based Zurich, and American International Group, have reportedly expressed interest in acquiring the life insurance business of NAB.
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