Richard Bowden, Managing Director, Bupa Australia said "The sale of the Life Insurance and Wealth Management businesses to MMC and the ongoing distribution alliance are excellent outcomes for our people and our customers. Additionally this will enhance our life risk and wealth management product offering."

Simon Swanson, MMC's newly appointed Managing Director, said "Bupa's Life Insurance and Wealth Management businesses are a transformational acquisition for MMC and represent a unique opportunity to position MMC favourably in the growing Australian life risk and wealth management market. We look forward to working closely with Bupa Australia to maximise opportunities for both parties and employees, and providing specialised financial services to Bupa Australia's customers".