Resolution Life to acquire a 19% stake in Resolution Life Australasia from AMP for $391m.

Resolution Life, a global life insurance group, agreed to acquire a 19% stake in Resolution Life Australasia from AMP, an Australian public listed company that derives its revenue from the provision of wealth management, investment management, banking and superannuation services, for $391m. “This divestment brings to a close our long and proud involvement in life insurance in Australia and New Zealand. It enables us to realise capital to further strengthen our balance sheet ahead of our demerger and continue supporting our businesses. The separation of our businesses is progressing well and will continue until mid-next year as planned. We will continue to provide transitional services to RLA, as agreed, and will have a shared customer and adviser connection into the future," Alexis George, AMP CEO.