NEWS FROM THE STANDARD |
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IPO Aims for Sunny Side of TheStreet
Jul 17 2001 07:53 AM PDT
PROFILE |
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AMP, the former Australian Mutual Provident Society, is Australia's largest insurance and financial services group. Some 5,000 representatives sell AMP's investment bonds and trusts, commercial and individual property/casualty and life insurance, retirement planning, superannuation, and asset-management products. Growing through acquisitions, AMP owns about 57% of general insurer GIO Australia Holdings. The company has also launched direct-banking service AMP Bank in Australia. AMP demutualized in 1998 and has used the proceeds to make acquisitions and expand geographically. The company is exiting the general insurance business, focusing on investment and protection products.
COMPETITION |
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Australia and New Zealand Banking Group Limited (ANZ)
AXA Asia Pacific Holdings Limited (AXA)
Commonwealth Bank of Australia (CBA)
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FINANCIAL OVERVIEW |
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Fiscal Year-End: December
2000 Sales (mil.): 15,434.50
1-Yr. Sales Growth: (15.0)%
Employees: 22,000
Revenue per employee: $701,568.18
KEY PEOPLE |
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Paul Batchelor
CEO
Marc de Cure
CFO
CONTACT INFO |
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Level 24, AMP Bldg., 33 Alfred St.
Sydney 2000, Australia
Phone: 61-2-9257-9297
Fax: 61-2-9257-5099
Online: Web Site
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