CGU buys HBF's general insurance branch

GOOD MOVE: Rob Bransby says the deal makes sense for HBF and its members.

Western Australia-based health fund HBF has offloaded its general insurance business to CGU for an undisclosed sum.

Under a distribution agreement, HBF branded insurance policies, such and home and contents, motor and travel insurance will continue to be sold by HBF, but underwritten by CGU.

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