RBNZ can't say if or when it may approve AMP Life sale

Thu, 19 Mar 2020

The Reserve Bank said it won't approve AMP Life's sale of its New Zealand life insurance business if it is "not comfortable" with it and said it can't provide a time frame for a decision.The central bank also hinted that it hasn't yet received all the information it needs to make such a decision.AMP announced the sale of its life businesses on both sides of the Tasman to Bermuda-based Resolution Life for A$3.3 billion in October 2018.In July last year, the Reserve Bank kyboshed that deal.AMP had expected the prudential regulator would allow Res...

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