New head named for AMP Life and Resolution Life

AMP Limited and Resolution Life Group have announced the appointment of Megan Beer as chief executive of AMP Life - the business to be sold to Resolution Life - and head of the Resolution Life Australasian region.

In her new role, Beer will lead the transition of AMP's wealth protection and mature businesses to Resolution and lead the business after sale-completion. Beer will also lead the development of Resolution's core life in-force business in Australasia.

Beer has led AMP's insurance business for the past five years, having joined AMP from NAB in 2014. She was also responsible for AMP's Strategy team.

Resolution Life Group founder and executive chair, Sir Clive Cowdery, said of her appointment: "We are delighted to have Megan join us. She is one of the most experienced and respected insurance executives in Australia and the wider region. Her market knowledge and insights will be a considerable asset in building the Resolution business in the region once the transition of the AMP business to Resolution is complete."

AMP chief executive officer, Francesco De Ferrari, added: "While we're sorry to be losing a leader of Megan's calibre, I'm pleased that AMP will continue to benefit from her stewardship of Resolution's businesses in Australia, in which we will retain a significant minority interest. The continuity of leadership will enable a seamless transition for customers and employees, an important consideration of our agreement with Resolution."

Resolution Life Group has entered into an agreement to acquire AMP's wealth protection and mature businesses in Australia and New Zealand, a transaction that is expected to complete in the second half of 2019.