AMP's NZ financial services notes higher income protection claims as earnings fall

Tue, 07 Aug 2018

By Paul McBeth Aug. 8 (BusinessDesk) - AMP's New Zealand financial services division noted an increase in income protection claims in the first six months of 2018 and a growing number of policy lapses, which weighed on earnings in the period. The local unit of the Australian financial services firm reported a 13 percent decline in operating earnings to $60.4 million in the six months ended June 30, citing skinnier profit margins from its wealth protection and mature life insurance products, and an increased number of claims on income pro...

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