SYDNEY, Oct 27 (Reuters) - National Australia Bank NAB.AX on Tuesday placed its shares on a trading halt, fuelling speculation Japan's Nippon Life Insurance Company will buy its insurance unit in a deal valued at about $1.8 billion.
Earlier this month, Australia's No. 1 lender said it was exploring a long-term partnership with Nippon, and the two had signed a non-binding agreement to manufacture life insurance products.
Media in both countries have been reporting about the possible sale of NAB's insurance unit to Nippon. ($1 = 121.0200 yen)