Bank of America Corp (BAC.N) is close to a deal to sell its Balboa insurance business to Australia's QBE Insurance Group Ltd (QBE.AX), Bloomberg reported, citing unnamed sources. Talks are ongoing for a deal that includes up-front payments as well as an amount based on the unit's future performance, Bloomberg reported. Negotiations are advanced and a deal could be reached this week, it said. Bank of America declined to comment. QBE couldn't be reached immediately for comment. (Reporting by Paritosh Bansal and Joe Rauch)
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