A.M.P. assets up

Press, 22 April 1986, Page 26

A.M.P. assets up

PA Wellington The A.M.P. Society in New Zealand increased policy-holder assets by 23 per cent to $2573M during 1985, according to provisional results. A.M.P. said total income for A.M.P. life insurance and superannuation business increased by 15 per cent to SSOBM of which investment income was S26IM, up 30 per cent on the previous year. These figures include net profit on realisation of assets. The A.M.P. manager for New Zealand, Mr John Dingle, said that in spite of the uncertainties about premiums and taxation during 1985, A.M.P. had maintained a successful

level of premium income. He said he was particularly pleased with the 30 per cent improvement in investment results during 1985, which contributed to continuing growth in policyholders’ funds and further secured claim and benefit payments. In the current deregulated climate, 1986 would remain a year of challenge and opportunity. In spite of difficulties in some areas of the economy, A.M.P. business plans and results to date in 1986 reflected a positive attitude and significant growth. Mr Dingle said superannuation would continue to be a first consideration

for a significant number of employees through 1986. This was evident in the interest in personal superannuation policies being effected by employees independently of employer subsidy. A.M.P.’s new annual premiums in this field during this year had more than doubled, compared with the same time last year. A.M.P. paid out a record amount in benefits and returns to policyholders and beneficiaries during 1985. Payments totalled $l74M' in death and disability claims, policy maturities and withdrawal benefits from individual policies and superannuation plans.