AMP History

In the mid-1800s in New Zealand and Australia, people faced the constant risk of injury and disease. Many people were employed in hazardous occupations and, without today’s social welfare or pensions, that meant the consequences for families in the event of their breadwinner's death, disability or even old age could be severe. In extreme cases, families were left to beg for their basic necessities.

A small group of concerned community leaders saw the need to provide financial security for people and established the Australian Mutual Provident Society, or AMP. In 1854, AMP began selling life insurance policies in New Zealand.

Since that time we have seen enormous developments in technology, health, and general standards of living. Daily life is nowhere near as brutal and short as it was back then, but we still need to provide for basic needs such as our retirement, and protecting our assets, health, income and family.

Just as we now have more life choices, there is also a greater variety of financial service options and advice available to meet people’s different circumstances.  After more than 150 years in the community, AMP has evolved from its humble mutual life insurance beginnings into a large organisation that provides personal advice to help you and your family look forward to a more secure and brighter future.

Recent Events

2004

  • AMP Financial Services NZ moves its head office from Wellington to Auckland, New Zealand's fastest growing market.

2003

  • UK life insurance and investment operations are split off in order to concentrate on AMP's traditional markets of New Zealand and Australia.
  • AMP sells AMP Banking in New Zealand to HSBC.

2001

  • AMP establishes a joint venture with Sanmar Insurance in India.
  • AMP sells its general insurance companies and concentrates on developing the best life insurance and savings & investment products in the market.

2000

  • AMP acquires Towry Law - a predominantly UK-based independent financial advice (IFA) company.

1999

  • AMP buys the general insurance company GIO Australia and UK mutual life insurer National Provident Institution (NPI).
  • AMP launches AMP Banking in Australia and New Zealand.

1998

  • AMP lists on the Australian and New Zealand stock exchanges.
  • AMP acquires British funds management group Henderson.