AMP Group has announced it is exploring divestment of AMP Wealth Management New Zealand (our business), including our majority owned subsidiary AdviceFirst. This would enable our business to pursue further growth opportunities in the local market as we seek to continue to improve our product and service offering for our clients locally.
We have a strong and dedicated team with a track record of quality execution, which positions our business for this logical next step as we continue to respond to the demands of the changing market and regulatory landscape to build a sustainable business. We continue to be a profitable and highly capital efficient business.
There are no changes for our clients or to our day-to-day business as a result of this announcement.
For more information, please read our media release.
There’s nothing you need to do
It is important to understand that as a result of today’s announcement:
- If you are a member of our AMP KiwiSaver Scheme or hold another AMP investment product, there are no changes. Your funds are in safe hands. AMP KiwiSaver Scheme and investments are strictly managed with external oversight by an appointed Trustee.
- If you have AMP general insurance, there are no changes.
If you have any enquiries or would like to make changes to your AMP KiwiSaver Scheme, AMP investment, or AMP general insurance policy, please contact us.
We remain committed to providing the best outcomes for you.
Sale of AMP Life
AMP has also provided an update to the market on the sale of its life insurance and mature businesses. You can read more here. Terms and conditions of existing life insurance policies will be retained, so there’s nothing policyholders need to do. If you need to make an insurance claim, the AMP Life team is standing by to help. If you have lodged an insurance claim, or are currently receiving claim benefits, nothing changes.