AMP Receives AU$44 Million From Insurers in Remediation-Related Legal Proceedings

MT Newswires Live

Sep 15

AMP (ASX:AMP) received proceeds of about AU$44 million to date as part of agreements reached with some insurers in legal proceedings for amounts incurred in historical remediation programs, which concluded in 2022, according to a Monday Australian bourse filing.

The financial services company said it sought recovery under its insurance policy for compensation and costs arising out of these historical remediation programs.

The company added that it remains in discussions with a number of other insurers in relation to these proceedings, following a hearing in August.

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