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Our business


Our business

We are proud to be one of Australia’s leading wealth managers. Through our portfolio of businesses, we offer services and solutions to help our customers achieve their goals and own a better a tomorrow.

Australian wealth management

We are proud to be one of Australia’s leading wealth managers. Through our portfolio of businesses, we offer services and solutions to help our customers achieve their goals and own a better a tomorrow.

We help our customers to save for, and to live well in retirement, with our retail and workplace superannuation products, self-managed superannuation funds services, as well as retirement income solutions and investments for individuals. Our superannuation business paid out $2.5 billion in retirement payments (including mature payments) in Australia in 2018. In a period of rapid transformation for the industry, AMP is committed to providing quality financial advice through our national network of advisers, ensuring Australians continue to have access to advice. In 2018, AMP launched Adviser Pathways, a rigorous training and development program for new advisers, further strengthening its ongoing focus on lifting professionalism and adviser standards. 

         

AMP Bank

AMP Bank provides customers with residential and investment property home loans, deposit and transaction accounts and SMSF products. We also provide loans to AMP-aligned financial advice practices. We empower our customers to access AMP Bank products via a variety of channels including digital and online, phone, and through AMP financial advisers and home loan brokers. In 2018, we helped around 110,000 Australians with their banking needs, including providing over 6,000 new home loans.

         

AMP Capital

We manage investments in equities, fixed income, diversified, multi-manager and multi-asset funds on behalf of clients around the world. AMP Capital also manages real estate and infrastructure assets including shopping centres, airports, trains and pipelines, with $20.3 billion in infrastructure investments managed on behalf of funds and clients. In Asia, we have strong partnerships with two of the leading financial services groups, MUFG: Trust Bank of Japan and China Life. Our partnership with PCCP, a US-based real estate investment manager, provides a strong opportunity towards meeting our growth ambitions overseas and in new markets. At the end of 2018, AMP Capital managed $29 billion for international investors, including $17.3 billion for 302 direct international institutional clients.

         

Sold businesses (insurance and mature)

In October 2018, AMP announced the decision to divest its Australian and New Zealand wealth protection and mature businesses to Resolution Life. This is a major step in reshaping AMP as a simpler, more focused group. The transaction is expected to complete by the end of the third quarter in 2019.

Wealth protection (life insurance)
We support our customers and their families during tough times with life insurance, income protection, and disability insurance solutions. AMP provides policies that are held by individuals or are a part of their superannuation fund. In 2018, we paid $1.2 billion in Australian insurance claims and NZ$161 million in New Zealand insurance claims when people needed us most.

Mature
Through our mature business, we manage closed insurance and superannuation products that are no longer being sold. This business is managed for yield and capital efficiency.

         

New Zealand wealth protection

In New Zealand we provide customers with financial products and services, directly and through one of the largest networks of financial advisers in the country. In 2018, AMP was the fourth-largest KiwiSaver Scheme provider with 10% of the total KiwiSaver market and approximately 225,000 customers.