RBNZ says no change in approach on Resolution Life's AMP purchase

Thu, 18 Jul 2019

By Jenny Ruth July 18 (BusinessDesk) - The Reserve Bank says it hasn’t changed its approach to applications for changes of ownership of life insurance companies and nor has there been any change in New Zealand insurance law or regulations since October 2018. That was when AMP announced the sale of its Australian and New Zealand life business to Bermuda-based British firm Resolution Life for A$3.3 billion. That sale collapsed earlier this week because RBNZ insisted that Resolution Life agree to have separate, ring-fenced assets held in...

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