Australian insurer AMP is to streamline the number of products it offers in the UK from 190 to 40, to reduce duplication across its three UK insurance brands.
Australian insurer AMP is to streamline the number of products it offers in the UK from 190 to 40.
The move is an attempt to reduce duplication across its three UK insurance brands, the Financial Times has reported.
The company, which owns insurers Pearl, NPI and London Life in the UK, said the overhaul would simplify its range and enable it to focus on its core products.
The FT said as part of the overhaul, the insurer planned to co-brand NPI, Pearl and London Life with the AMP name and bring them together in one marketing group.
The insurer said it would still offer the same breadth of products but some areas would be rationalised.
The newspaper added that AMP, which has five million customers in the UK, was looking to spend more than £10m on an advertising campaign in the UK, starting in the second quarter next year.
It recently signed a high-profile £2m sponsorship deal for the renamed AMP Oval cricket ground to bolster its profile.
There has been speculation that AMP might be looking at a London listing. The insurer manages more than £100bn of assets worldwide but generates about 60% of its profits from the UK.
AMP said this year that it planned to expand its British door-to-door sales force - bucking the trend among insurers to scrap direct sales forces.
