The AFR is reporting Wesfarmers is in the final stages of talks to sell its insurance business to Zurich.
The report says its insurance arm is worth around $2 billion, and only made about 5% of its earnings.
Both Zurich — which is based in Switzerland — and Wesfarmers have struggled to gain traction in the Australian insurance market.
They compete against bigger rivals QBE Insurance Group, Insurance Australia Group, Suncorp and Allianz.
There’s more here.