AMP has declared that the company will fix, not exit, its troubled UK operations.
AMP declared yesterday that the company will fix, not exit, its troubled UK operations.
AMP's handling of the solvency position of a Pearl with-profits fund last month led to it ousting chief executive Paul Batchelor.
It has had to inject £500m into Pearl to meet the regulatory requirements and is closing parts of it to new business.
Some analysts had forecast that AMP could quit its British insurance operations. Many observers had also expressed concern over the future of Towry Law.
However Mr Mohl said: "Right now, we are committed to fixing the problems, not looking for an exit.
"My view is that, with 20:20 hindsight, we wouldn't have invested as much capital in the UK as we have. In light of the prolonged bear market there, no one would have."
However, David Spry, analyst at FW Holst, said: "It could be a good thing if they got out of the UK."
