Suncorp Group Limited (ASX:SUN), Insurance Australia Group Limited (ASX:IAG) and others are expected buy to take a look at local consumer credit insurance business of General Electric Company (NYSE:GE), GE Capital Insurance. Nomura Holdings Inc. has started looking for potential buyers for the unit with the deal pegged at up to AUD 400 million.

Suncorp Group Limited is considering to sell "non-core" bank unit that houses its sour property loans, to free up capital and could mean higher payouts for investors, according to The Australian Financial Review.

Suncorp Group Limited (ASX:SUN) is planning to sell its 'non-core bank', reported Australian Financial Review citing senior sources at Suncorp Group. Australian Financial reported that senior sources at the company said various scenarios, including a sale to one or several buyers, were now being considered. "We're getting to the point where we may be close to completing that run-off in next little while," one source said. The source added, "We're now within reaching distance of completing the run off." The source added that Patrick Snowball, Chief Executive Officer of Suncorp Group, within the company has identified himself as a change agent rather than a long-haul Chief Executive Officer. The source said, "It's inevitable that he'll go back if the right opportunity came up. His problem is that given the economy over there it's unlikely anyone will pay him something equivalent to $8 million." One senior source added, "The perception was that he was there for the war and not the peace. But he's a very good leader, a good CEO and would be effective whether in this [turnaround] situation or a more stable environment."