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BRIEF-AMP announces series of new reinsurance agreements
August 10, 2017 / 12:29 AM / a month ago

BRIEF-AMP announces series of new reinsurance agreements

Aug 10 (Reuters) - Amp Ltd-

* Announced a series of new reinsurance agreements, releasing approximately a$500 million in capital from amp life

* ‍underlying profit a$533 million in 1h 17, up 4 per cent​

* Reinsurance agreements include new quota share agreement with general reinsurance life australia to cover 60 per cent of nmla retail portfolio

* New reinsurance agreements will commence on 1 november 2017

* “‍Amp is targeting additional revenue growth from its advice and smsf businesses​”

* ‍“Amp expects other revenue to increase by 10 per cent in fy 17​” Source text for Eikon: Further company coverage:

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