TAL Dai-ichi Life completed the acquisition of the Australian life insurance business of Westpac for $662m.

TAL Dai-ichi Life, a life insurance firm in Australia, completed the acquisition of the Australian life insurance business of Westpac, an Australian bank and financial services provider headquartered in Sydney, for $662m. "This transaction is another step in simplifying the bank while continuing to help customers with their life insurance needs by partnering with TAL," Jason Yetton, Westpac Group Chief Executive Specialist Businesses & Group Strategy.