Reserve Bank permits the sale of AMP Life | NZ Market Update

  • Jun 23, 2020 NZST
  • Team Kalkine

The Government of New Zealand has decided to support fair and safe workplaces as more and more people are going back to work in Alert Level 1. The Government is investing in programs to make sure that employees and employers know their rights and obligations. The programs shall provide: Health and safety promotion and technical information; Health and safety leadership by industry and Employment Services support and contestable fund.

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.

Fonterra farmers producing sustainable milk will be eligible for a new payment from next year. From June 2021, the dairy co-op will pay up to 10 cents per kilogram of milk solids if the farm meets its on-farm sustainability and value targets. In an email to farmers on Tuesday, chief executive Miles Hurrell said sustainability on-farm was fundamental requirement for most of the co-op's customers, who regularly checked up on progress.

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