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

Fri, 19 Jul 2019

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...

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