Swiss Re Life & Health Australia Limited reached an agreement in principle to acquire Policy Administration Business from Freedom Insurance Group Limited (ASX:FIG) for AUD 5 million on April 15, 2019. Swiss Re Life & Health Australia Limited entered into an Administration Services Transition and Settlement Deed to acquire Policy Administration Business from Freedom Insurance Group Limited (ASX:FIG) for AUD 5 million on April 29, 2019. The amount of AUD 5.0 million will be payable the day following the transition of the administration services. Sale proceeds will be used to pay creditors, wind down remaining operations and meet any final regulatory obligations. After meeting these obligations the board intends to return any excess funds to shareholders. Swiss Re Life & Health Australia Limited cancelled the acquisition of Policy Administration Business from Freedom Insurance Group Limited (ASX:FIG) on April 15, 2020.