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

CGU buys HBF's general insurance branch

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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HBF

Assets under management or net assets ($m)

5th-Packer & Company$1,321.0m
6th-Resource Capital Funds$1,100.0m
7th-HBF$1,096.5m
8th-Euroz$995.4m
9th-University of Western Australia$628.6m
43 fund managers ranked by assets under management or net assets

WA Revenue

1st-CBH Group$3.72bn
2nd-HBF$1.48bn
3rd-St John of God Health Care$1.30bn
4th-RAC$660.8m
5th↑Geraldton Fishermen's Co-operative$360.0m
43 not for profit businesses ranked by WA revenue most recent financial year

Number of Employees

Not For Profit Businesses

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