AMP flags $65m Q4 profit hit

Wealth manager warns trend of policy cancellations continues to worsen.

AMP (AMP) has flagged a hit to its full-year 2013 results of up to $65 million as more customers cancel policies.

In a statement to the Australian Securities Exchange, the wealth manager said it expects a capitalised loss of $40 million to $50 million in the fourth quarter as lapses in its income protection book increase. 

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles