Dec 16 (Reuters) - National Australia Bank Ltd NAB.AX :
* AGREEMENT TO SELL BNZ LIFE INSURANCE TO PARTNERS LIFE
* DEAL FOR NZ$290 MILLION
* SALE IS EXPECTED TO RESULT IN AN INCREASE IN NAB GROUP'S CET1 RATIO OF 6 BPS BASED ON NAB GROUP'S RISK WEIGHTED ASSETS AS AT 30 SEPTEMBER 2020
* AS PART OF SALE, BNZ WILL ALSO ENTER EXCLUSIVE 10-YEAR AGREEMENT FOR REFERRAL OF BNZ'S CUSTOMERS WITH LIFE INSURANCE NEEDS TO PARTNERS LIFE