Sept 6 (Reuters) - Freedom Insurance Group Ltd FIG.AX :
* ASX ALERT-FREEDOM LAUNCHES STRATEGIC REVIEW-FIG.AX
* INITIATED A REVIEW OF STRATEGIC OPTIONS FOR COMPANY
* REVIEW'S COMMENCEMENT FOLLOWS CONSIDERATION OF REPORT RELEASED BY ASIC LAST WEEK
* BOARD NOTES SIGNIFICANT PROPORTION OF UPFRONT COMMISSION REVENUE IS FROM SALE OF FUNERAL INSURANCE BY CO'S DIRECT SALES TEAM
* NO TIMETABLE HAS BEEN SET FOR COMPLETION OF STRATEGIC REVIEW
* "CHANGES TO A NUMBER OF LEAD SOURCES WOULD BE REQUIRED TO CONTINUE TO MEET EXPECTATIONS OF REGULATOR"