25 October 2018 – AMP Limited to sell its Australian and New Zealand Wealth Protection and Mature businesses to Resolution Life

AMP Limited announced it has sold its Australian and New Zealand insurance and mature businesses to Resolution Life, a specialist manager of legacy life insurance portfolios. It also announced an intention to explore options to divest the New Zealand wealth management and advice businesses through an IPO in 2019. The proposed IPO does not include AMP Capital New Zealand which operates independently.

Here is a client update from CEO Adam Tindall providing further detail on the changes.