AMP puts greater store in insurance
Financial giant AMP will focus on risk insurance as a key factor in restoring the 160-year old company to its former glory.
Speaking at the company AGM last week, CEO Craig Dunn identified five priorities key to harnessing sustainable growth.
They are cost efficiency, employer-sponsored superannuation growth, new business channels, productivity gains and a greater focus on non-retirement business.
“This means diversifying our revenue sources so that we build stronger businesses in non-superannuation areas, like risk insurance and retail banking,” he said.
AMP’s bottom-line profit fell 41% last year to $580 million. The company made 300 staff redundant in the fourth quarter of last year and has instituted a pay freeze and one unpaid day per month at the executive and senior management level.
Speaking at the company AGM last week, CEO Craig Dunn identified five priorities key to harnessing sustainable growth.
They are cost efficiency, employer-sponsored superannuation growth, new business channels, productivity gains and a greater focus on non-retirement business.
“This means diversifying our revenue sources so that we build stronger businesses in non-superannuation areas, like risk insurance and retail banking,” he said.
AMP’s bottom-line profit fell 41% last year to $580 million. The company made 300 staff redundant in the fourth quarter of last year and has instituted a pay freeze and one unpaid day per month at the executive and senior management level.