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Regulator

2022-02-27

Sale of AMP Life to Resolution Life

The Reserve Bank of New Zealand approved the sale of AMP Life to Resolution Life in June 2020 following an 18-month review process. The transaction involved a change of control and ownership of AMP Life from AMP Ltd to Resolution Life. The approval was granted under a revised arrangement subject to specific conditions and exemptions designed to protect policyholders.

New Zealand

Reserve Bank of New Zealand

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How we regulate and supervise insurers

We approved the sale of AMP Life to Resolution Life in June 2020 in a revised arrangement subject to a number of conditions imposed to protect policyholders.

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We reviewed the proposed transaction and consulted with the parties involved over an 18-month period to ensure the deal met our requirements.

The transaction involved a change of control and ownership of AMP Life from AMP Ltd to Resolution Life.

The first document below sets out the new operating model and the main elements of the new structure, and the second document sets out the exemptions and conditions applied to the new operating model.

AMP Life/Resolution Life operating model

PDF | 537KB

AMP Life Section 59 exemption

PDF | 657KB