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.
What you need to know
Any advice on this website is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), and 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 relevant product disclosure statement and/or policy document, available from Resolution Life at Resolution Life or by calling 133 731, before making a decision on whether to acquire, or continue to hold, the product.
The Target Market Determinations (TMDs) for our financial products (where applicable) can be found at Target Market Determinations. The TMDs describe the key features and attributes of an applicable product that affect whether it is likely to be consistent with the objectives, financial situation and needs of consumers in the target market.
Resolution Life is part of the Resolution Life Group and can be contacted via Contact us or by calling the phone number mentioned above.
