AMP has put the cost of its merger with Axa at $30 million but it will talk further about integration costs at the release of its half-year results on August 18.

The savings from the merger will be recognised as business unit operating earnings and group office costs in the half-year accounts.

AMP raised $600 million of subordinated exchangeable notes in March to pay a cash contribution to Axa shareholders and fund half of the integration costs.

The rest of the integration costs will be funded from AMP’s existing capital resources.

Axa’s operating figures for the three months ending June 30 will be separate from AMP’s figures for this year.

The company says once the integration of business units is more advanced, year-on-year comparisons will be made.

But AMP will be making changes to Axa reporting structures and that will have an impact on the company’s operating earnings.

These include moving the operating earnings of dealer groups Axa Financial Planning and Charter Financial Planning to the company’s operating earnings.

It will also allocate Axa employees’ long-term incentive costs to Axa’s operating earnings.