Swiss Re has entered into an agreement with financial services company AMP, providing reinsurance to its New Zealand retail wealth protection portfolio. Interestingly, AMP’s shares have suffered a significant fall of 24% since announcing the deal, with the Sydney Morning Herald reporting that the sale price appeared to be about 20% below the market’s expectation. The deal is expected to be completed by the end of this year, and will provide a new source of income for the company.
Swiss Re has entered into an agreement with financial services company AMP, providing reinsurance to its New Zealand retail wealth protection portfolio. The deal is expected to be completed by the end of this year, and will provide a new source of income for the company.