AMP, as you may know, have sold their insurance business to Resolution Life who are based in the UK. Since 2003, various Resolution entities have committed US$13.6 billion of equity in the acquisition, reinsurance, consolidation and management of 27 life insurance companies. Together these companies have managed over US$300 billion of assets whilst serving the needs of 10 million policy holders.
Should you have an AMP insurance policy or policies, you can increase or decrease them at any time and also add additional covers should you wish. For example if you have life cover only, you can add income protection or trauma cover at any time. Resolution Life also intends to upgrade policy features over time to keep policies competitive with the market.
AMP has reversed its decision to sell the NZ wealth and advice business and plan to invest in it for growth. This will see an improved digital experience for those clients who use the online facility MyAMP.