In September 2017, CBA announced the sale of its CommInsure life insurance business in Australia to the AIA Group. The sale includes CMLA. While the sale of CMLA is expected to complete in calendar year 2020, CMLA has entered into a Joint Cooperation Agreement with AIA Australia Limited (AIA) and CBA for the joint operation of CMLA, as at 1 November 2019. AIA is part of the AIA Group which is a PRI signatory. Whilst CBA will remain the ultimate shareholder of CMLA, under the terms of the Joint Cooperation Agreement AIA has an appropriate level of direct management and oversight of the CMLA business.