About us
Resolution Life Australasia is owned by Resolution Life, a global life insurance group focusing on reinsurance, the acquisition and ongoing management of portfolios of life insurance policies and selective new business growth in strategic markets. At Resolution Life, we are resolutely committed to protecting the financial futures entrusted to us. For customers, advisers, companies, and the industry, we are making an impact worldwide.
Resolution Life Australasia is one of the largest life insurers in Australasia, servicing ~1 million customers with superannuation, investments and life insurance policies, managing approximately ~$30 billion in assets with approximately 1,000 employees across Australia and New Zealand.
We have deep expertise in servicing existing policies through investment in systems and talent and offering innovative and compelling new business solutions in select markets across Australia and New Zealand.
We are committed to providing our customers with peace of mind that their insurance, superannuation and investment policies are in safe and trusted hands for the long term.
New Zealand Resolution Life Operating Model
Resolution Life Australasia Limited is licensed to carry on insurance business in New Zealand under the prudential supervision of the Reserve Bank of New Zealand (Reserve Bank).
When AMP Life was acquired by Resolution Life in June 2020, changes were made to the structures of its New Zealand business following engagement with the Reserve Bank and the Australian Prudential Regulation Authority (APRA). The changes are designed to ensure that the benefits New Zealand policyholders enjoy under their Resolution Life policies are maintained and protected. Resolution Life remains your insurer and the terms of your policy are unchanged.
AMP Life Limited changed its name to Resolution Life Australasia Limited in November 2021.
The structural changes that Resolution Life has put in place are
- Resolution Life New Zealand Limited (Resolution Life NZ)- a new company in New Zealand which is a licensed insurer governed by a board of majority independent directors and supervised by the Reserve Bank. It is also the trustee of the AMP Life NZ Trust Fund (see below);
- Resolution Life NZ Trust Fund– a trust to hold a pool of investment assets with Resolution Life NZ as trustee and Resolution Life as the manager of the trust, whose assets support the policies issued by Resolution Life to New Zealand policyholders
- New Zealand Policyholder Advisory Committee (NZPAC)– a committee of the Resolution Life Board, whose members include the independent directors of Resolution Life NZ, established to enhance and protect the interests of New Zealand policyholders.
The links below contain further details of each component of these changes.
More Information - Resolution Life NZ
More Information – Resolution Life NZ Trust Fund
More Information – NZ Policyholder Advisory Committee
Resolution Life’s Insurer Licence and Exemptions
Because Resolution Life is licensed and supervised by APRA, Resolution Life in New Zealand continues to be exempted from requirements of the statutory fund provisions in New Zealand legislation, as well as the application of the New Zealand solvency standard for life insurers. These exemptions were granted to Resolution Life on the basis that Resolution Life must comply with the equivalent Australian requirements under the supervision of APRA. Those exemptions are subject to a number of conditions, some of which relate to the changes described above.
Click here to view the conditions of exemptions at the Reserve Bank website.
Important information
Resolution Life Australasia Limited ABN 84 079 300 379, NZ Company No. 281363, AFSL No. 233671 (Resolution Life). The content on this website is for information only. The information is of a general nature and does not constitute financial advice or other professional advice. Before taking any action, you should always seek financial advice or other professional advice relevant to your personal circumstances. While care has been taken to supply information on this website that is accurate, no entity or person gives any warranty of reliability or accuracy, or accepts any responsibility arising in any way including from any error or omission.
