CORRECT AMP's New Zealand FY profit flat, plans to ditch Axa brand in March

Thu, 21 Feb 2013

(Fixes wrong retail and KiwiSaver funds under management in 5th graph) By Paul McBeth Feb. 21 (BusinessDesk) - AMP's financial services unit in New Zealand reported flat annual earnings as rising insurance claims offset gains in its wealth management businesses. The local unit will stop using the Axa brand from the end of next month. Underlying profit slipped to $119 million in the 12 months ended Dec. 31 from $120 million a year earlier, on a 3.5 percent increase in annual premium income to $298 million, the company said in a statement. In...

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