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Resolution Life has agreed to acquire AMP Limited's (AMP) minority equity interest in Resolution Life Australasia[1] for a total consideration of AUD524 million.
The acquisition marks a significant milestone for Resolution Life's Australasian business and represents the next phase of our journey as we position our platform for future growth and rebrand AMP Life to Resolution Life.
Since joining Resolution Life, the Australasian leadership team has been focused on separating from AMP and transforming the business to become data driven and to introduce contemporary technology and digital offerings to enable better customer service and outcomes. Significant investment has already been made in new technology, a new website and new digital portals to provide more effective and efficient experiences for our customers.
The acquisition is subject to regulatory approvals and is expected to complete in H1 2022.
Please read the media release here.
[1] Resolution Life-controlled holding company (Resolution Life NOHC Pty Ltd) that wholly owns AMP Life.
Important information
Where the information on this website is factual information only, it does not contain any financial product advice or make any recommendations about a financial product or service being right for you. Any advice is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), is general advice and does not take into account your objectives, financial situation or needs. Before acting on this advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, as well as the product disclosure statement and policy document for the product. Any guarantee offered in the product is only provided by Resolution Life. Any Target Market Determinations for our products can be found at resolutionlife.com.au/target-market-determinations.
Resolution Life does not make any representation or warranty as to the accuracy, reliability or completeness of material on this website nor accepts any liability or responsibility for any acts or decisions based on such information.
Resolution Life can be contacted at resolutionlife.com.au/contact-us or by calling 133 731.
