News: FIG Australia's Freedom Insurance to sell its policy administration business

April 15 (Reuters) - Australia's Freedom Insurance Group Ltd (FIG) said on Monday it would sell its policy administration business to an undisclosed service provider for A$5.0 million ($3.6 million), and was looking to exit all of its operating businesses after completion of the deal.

"For confidentiality reasons, Freedom is unable to disclose the identity of the Service Provider before it enters into the underlying agreements," said Freedom Insurance in a statement. ($1 = 1.3951 Australian dollars)