Westpac-owned BT Super is reportedly in late-stage discussions to transition its group life insurance from in-house to Asia’s AIA – without going through a tender process.
That’s according to sources familiar with the matter as quoted by The Australian, which also claims that AIA is negotiating the final contact conditions and terms with BT Super’s trustee, resulting in an estimated $200 million annual insurance premiums being removed from Westpac.
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