AMP has received regulatory approval for the sale of its life insurance business.
The transaction is expected to wrap up after the market closes on 30 June.
AMP has said it will provide an update to the market on 1 July.
The sale to Resolution Life was declared in 2018, initially for $3.3 billion, but it hit a roadblock last year.
The group dropped its plans to divest its New Zealand wealth business in May.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
First Sentier Investors has fully rebranded its global operations, shedding the name First State Investments outside of Australia. ...
The wealth giant will buy MLC in a move that will reshape the face of Australia’s financial services industry. ...
The wealth giant’s shares are in a trading halt as it prepares a capital raise, with rumours swirling that it is set to acquire MLC. ...
Subscribe to our newsletter
Copyright © 2020 Investor Daily
Get notifications in real-time for staying up to date with content that matters to you.
Read More