ING Direct has launched its first insurance product, teaming up with insurer Auto & General to offer home and contents policies. Initially the bank will offer home, contents and home and contents policies to customers who come through the broker network. It plans to start selling standalone cover next year. ING Direct chief executive Uday Sareen, who started in June, has said the bank needs more products if it is going to convert more of its 1.6 million customers to "main bank" relationships. National Australia Bank has completed the sale of 80 per cent of its life insurance business to Nippon Life Insurance Co. NAB is retaining 20 per cent of the business and has entered into a 20-year distribution agreement with Nippon Life. NAB chief executive Andrew Thorburn said the sale, which was worth A$2.4 billion, marked the end of the bank's divestment program. La Trobe Financial has launched an online investment platform. Chris Andrews, chief investment officer at La Trobe Financial, said the new platform would initially allow access to two portfolio account products in La Trobe's A$1.23 billion Credit Fund (a 48-hour account and a 12 month term account). Andrews said he expected the more than 24,000 members of the Credit Fund would have online access to another two La Trobe products, including a high yield investment account, "prior to Christmas".