November 19, 2019 / 12:36 AM / 19 days ago

Australia regulator says CBA life insurance arm pleads guilty to offences

Nov 19 (Reuters) - The life insurance arm of Australia’s largest lender, Commonwealth Bank of Australia, pleaded guilty to 87 counts of hawking offences, the corporate regulator said on Tuesday.

In a statement, the Australian Securities and Investments Commission said CommInsure, through its agent, unlawfully sold life insurance policies known as ‘Simple Life’ over the telephone between October and December 2014. (Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Clarence Fernandez)

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