Reserve Bank Permits the Sale of AMP Life

  • June 23, 2020 12:45 PM NZST
  • Team Kalkine

In a revised version, the Reserve Bank of New Zealand has agreed on the proposed deal of AMP Life to Resolution Life. However, it is subject to several conditions required to guard the policyholders.

Deputy Governor and General Manager for Financial Stability, Geoff Bascand said that to ensure that the deal meets all requirements, the Reserve Bank has been evaluating the proposed transaction and consulting with the parties over the past 18 months.

The transaction is to change the ownership as well as control of AMP Life from AMP Ltd to Resolution Life.

 


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