Insurance

AMP credit rating cut on back of Royal Commission

Friday 31st of August 2018

Ratings agency S&P has cut its life insurance rating from A+ to AA and put it on negative outlook.

Dual-listed parent AMP kept its A credit rating, which S&P said reflected "the recent and prospective increasing importance of nonregulated cash flows to the group's operating income given that we expect reinsurance arrangements to further dampen life risk earnings going forward".

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