** Shares of Australian wealth manager Insignia Financial IFL.AX rise 5.8% to A$4.57, their highest level since Jan. 28
** IFL breaks three-day losing streak; among top gainers in the ASX200 benchmark index .AXJO
** Receives non-binding, indicative takeover proposal from Brookfield for A$4.60 cash per share, valuing IFL at A$3.07 billion ($1.92 billion)
** Offer price represents a 6.5% premium to IFL's last closing value
** Brookfield's offer triggers a three-way bidding war with Bain Capital and CC Capital
** All three parties are offering A$4.60 per share and have limited access to non-public information for due diligence
** IFL up 21.7% this year, including the day's moves
($1 = 1.6005 Australian dollars)
(Reporting by Sameer Manekar in Bengaluru)
((Sameer.Manekar@thomsonreuters.com))
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