AMP have recently announced changes to their business structure
AMP Business changes
AMP has entered into an agreement to sell its life insurance businesses in Australia and New Zealand to Resolution Life. They are an international insurance and reinsurance group whose management has a 15-year track record in providing quality service to in-force insurance customers.
AMP has also advised its intention to seek the divestment of its New Zealand wealth management and advice businesses via an IPO in 2019, subject to market conditions and regulatory approvals. This includes the AMP KiwiSaver Scheme, investment products and general insurance.
What does this mean for AMP clients?
If you have any enquiries or would like to make changes to your policy, AMP KiwiSaver Scheme or investment, AMP are ready to assist. If you need to make an insurance claim, AMP are standing by to help. If you have lodged an insurance claim, or are currently receiving claim benefits, AMP will continue to provide you with their full support.
What does this mean for Core Advice clients?
No change. Core Advice is a locally owned and operated Adviser business and this will continue. Core Advice has a contract for service with AMP and other insurance and investment companies to sell and service policies and provide advice to clients and this will also continue.
It is important to understand that:
Terms and conditions of existing AMP life insurance policies will be retained, so there’s nothing you need to do.
If you are a member of the AMP KiwiSaver Scheme or hold another AMP investment product, nothing changes.
If you have AMP general insurance, there are no changes.
AMP value you as a customer and remain committed to providing the best outcomes for you. If you would like more information, please visit amp.co.nz/changes. Alternatively, please contact AMP on 0800 267 762 or contact Core Advice.