Insurance

Lapse rates up; profit down at AMP Life

Monday 17th of February 2020

The company’s life business has been separated out from wealth management while it works through the sale to Resolution Life. This sale is expected to be completed by June 30.

AMP last week announced its results and its New Zealand insurance business saw its profit fall 55% from A$51 million to A$23 million.

Annual premium income for individual risk products was down 11.1%...

Want to read the full article?
Click the button below to subscribe and will have unlimited access to full article and all other articles on the site.