Australian banking major Westpac mulls sale of life insurance unit

Australian banking major Westpac mulls sale of life insurance unit

FILE PHOTO: Pedestrians hold umbrellas as they walk past a branch of the Westpac Banking Corp in central Sydney, Australia, March 30, 2017. REUTERS/David Gray/File Photo

Westpac Banking Corp, Australia’s second-largest bank, is considering selling its life insurance business, two sources told Reuters, in what could be the last of the Big Four lenders to exit the industry.