The New Zealand arm of Royal & SunAlliance has bought the New Zealand general insurance businesses of AMP, the international financial services company, for NZ$60m (£17m).
The deal includes GIO New Zealand and AMP's 50% stake in the Automobile Association joint venture, AA Insurance.
R&SA will underwrite and administer the general insurance products, but they will be distributed by AMP and continue to carry the AMP brand.
