Insurer financial strength ratings

and insurer solvency information

Insurer Financial Strength Ratings

AMP Life Limited (AMP Life) has an AA- insurer financial strength rating given by Standard & Poor's Australia Pty Limited, a rating agency approved by the Reserve Bank of New Zealand

Financial strength ratings may change from time to time. Contact AMP or your Adviser to confirm AMP insurers' current ratings or go to the rating agency's website at www.standardandpoors.com.

A summary of the Standard & Poor's Financial Strength Rating Scale is as follows:

Secure Range

AAA
Extremely strong financial security characteristics

AA
Very Strong financial security characteristics

A
Strong financial security characteristics

BBB
Good financial security characteristics

Vulnerable Range

BB
Marginal financial security characteristics

B
Weak financial security characteristics

CCC
Very weak financial security characteristics

CC
Extremely weak financial security characteristics

R
Regulatory action financial security characteristics

* Plus (+) or (-) signs following ratings from 'AA' to 'CCC' show relative standing within the major ratings categories.

Insurer Solvency information

AMP Life Limited Solvency

The Insurance (Prudential Supervision) Act 2010 requires AMP Life Limited (“AMP Life”) to maintain a solvency margin. Under an exemption granted by the Reserve Bank of New Zealand, this solvency margin is to be calculated in accordance with the Australian equivalent of the solvency requirements and for the statutory fund containing the life insurance business carried on in New Zealand (all of the New Zealand business is included in AMP Life Statutory Fund No.1).

As at 30 June 2016, the Prescribed Capital Amount (“PCA”) required to be held by AMP Life Statutory Fund No.1 under the Australian capital standards was NZ$728m. The capital available to meet this requirement was NZ$1,420m, which was NZ$693m in excess of the PCA. The Australian equivalent of the solvency margin was therefore NZ$693m. The available capital was 1.95 times the PCA.

The above amounts are based on unaudited returns to the Australian regulator adjusted for transfers out of AMP Life Statutory Fund No.1 effective 30 June 2016.