Initial integration plans have been completed that will bring AMP and AXA’s products and platforms together, according to AMP.
AMP stated that it would maintain AXA North and AMP Flexible Super. AMP’s SignatureSuper would be its medium and large corporate superannuation product, while AMP Flexible Super would target small to medium businesses, it added.
AMP stated it would continue to invest in its two distinctive insurance offerings – AMP’s Flexible Lifetime Protection and AXA’s Elevate – to ensure they remained competitive. However, within the next two years the company will build a new retail insurance product range that will take the best attributes of the two current offerings.
AMP and AXA’s group risk products will remain, while the group will aim to enhance AMP’s group risk offer that supports AMP’s mastertrust superannuation product and invest in AXA’s stand-alone offer to capitalise on profitable growth opportunities.
AMP stated it would continue its multi-brand approach to financial advice and would look at ways to further support all its financial planning businesses.
“We are using the assets and capabilities of the combined business to enhance the value propositions we offer our aligned planners and advisers, while maintaining the differentiation they value,” said AMP Financial Services managing director, Craig Meller (pictured).
“These enhancements include new, competitive finance packages through AMP Bank and the broader rollout of AXA’s North platform.”
