The amount Axa Asia Pacific Holdings shareholders will receive as part of the merger with AMP has been finalised at $6.43 a share.

They will receive 0.73 AMP shares for each Axa share and $2.54 in cash. The new shares will trade on the Australian Securities Exchange on March 31 under the AMP code.

Meanwhile, AMP Financial Services MD Craig Meller says the focus for this year will be to increase the number of advisers and improve their productivity.

Writing in AMP’s 2010 Shareholder Review, he says AMP will continue to look for new ways of selling products during the year.

Life insurance now accounts for 21% of the division’s operating earnings. However, this is now dwarfed by AMP’s wealth management business, which accounts for 41% of earnings.

According to the 2010 annual report, life insurance premiums in 2010 were $1.1 billion, while claims for the year were $1.28 billion. The 2009 figures were very similar, with premiums at $1 billion and claims $1.25 billion.