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  • Bank of America Corp. (NYSE:BAC) Completes Sale of Balboa Insurance Business to QBE

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    Wednesday June 1, 2011 at 09:14 pm EST
     
    Bank of America Corp. (NYSE:BAC) Completes Sale of Balboa Insurance Business to QBE
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    Bank of America Corporation today announced that it has completed the sale of the lender-placed and voluntary property and casualty insurance assets and liabilities of Balboa Insurance Company and affiliated entities to QBE Insurance Group. Bank of America Corp. (NYSE:BAC) first announced the sale agreement in February.

    The sale is consistent with Bank of America Corp.’s strategy to focus on businesses that directly serve customers and clients around the world, while continuing to strengthen its balance sheet.
    Shares of Bank of America Corp. (NYSE:BAC) closed at $11.24 above support level of $11.19. There are no Major support levels for Bank of America Corp. (NYSE:BAC) below current price. Resistance levels above current price are at $11.61, $12.34, $13.19 and at $13.58.


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