RBNZ knock-back gives Resolution chance to low-ball AMP - Jarden

RBNZ knock-back gives Resolution chance to low-ball AMP - Jarden
Paul McBeth
By Paul McBeth July 19 (BusinessDesk) - Resolution Life may be able to wrestle more than a billion dollars from the A$3.3 billion sale price of AMP's life insurance business after a known risk came to fruition when the Reserve Bank of New Zealand didn't play ball, say Jarden analysts.  AMP surprised investors this week when it said New Zealand's central bank changed the rules when it insisted that Resolution have separate, ring-fenced assets held in New Zealand to back Kiwi policyholders. The Australian financial services firm said renego...

More Finance

ANZ vows to fight CCCFA class action despite ASB settlement
Finance

ANZ vows to fight CCCFA class action despite ASB settlement

“ANZ NZ will continue to defend its case. Our position hasn’t changed.” 

Andy Macdonald 08 Oct 2025
ASB settles CCCFA class action for hefty $135.6m
Finance

ASB settles CCCFA class action for hefty $135.6m

 It ended a four-year class action centred on disclosure obligations.

Andy Macdonald 07 Oct 2025
ASB pays $135.6m to settle long-running CCCFA class action
Finance

ASB pays $135.6m to settle long-running CCCFA class action

High-street lender ASB has agreed to pay $135.6 million to settle a class action brought against it for alleged breaches of the Credit Contracts and Consumer Finance Act (CCCFA).The settlement – without admission of liability or wrongdoing – concluded four years of legal proceedi...

Staff reporters 07 Oct 2025