Australian insurance giant, AMP (Australian Mutual Provident), owner of the UK finance companies NPI, Henderson and Pearl has had its proposed de-merger of the company approved in the UK by the Financial Services Authority and in Australia by the Australian Prudential Regulation Authority.
The terms of the de-merger i.e. separation of the companies, has not been revealed for shareholders or policyholders and these are awaited.
Our view
This move releases AMP to restructure and sell off sectors of its business to interested parties, which we hope will be of benefit to their troubled policyholders and shareholders alike.
Wait and see.