March 29 (Reuters) - Commonwealth Bank of Australia CBA.AX said on Thursday it is undertaking a strategic review of its Indonesian life insurance business, PT Commonwealth Life, and that it has engaged external advisers for guidance on a possible sale of the venture.
The decision follows an earlier announcement of the proposed sale of the bank's life insurance businesses in Australia and New Zealand to AIA Group 1299.HK , the company added in a statement.
Reuters had earlier reported, citing people familiar with the matter, that Australia's biggest lender was considering selling its majority stake in an Indonesian insurance venture.