MMC has bought Bupa Australia's life insurance and wealth management businesses and has lured Simon Swanson to lead the combined entity.
Financial services firm MMC Contrarian has agreed to purchase Bupa Australia's life insurance and wealth management businesses, MBF Life and ClearView Retirement Solutions, for $195 million.
In conjunction with the acqusition, MMC also said it has appointed former CommInsure chief executive Simon Swanson to lead MMC.
MMC's previous managing director, Alex Hutchinson, will become chief executive of MMC's wealth management and advice business with responsibility for the expanded businesses of ComCorp and ClearView.
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