Insto roundup: New China insurer rules; GIC adds to board
AMP accused of undervaluing businesses in sale; China insurers' stock buying rules to be eased; HK MPF returns sour; NPS premiums likely to climb, GIC adds to board, and more.
AUSTRALIA
Australian boutique fund house and owner of 25 million AMP shares, Merlon Capital Partners, issued two open letters to the AMP board on October 27 and November 1, accusing AMP of undervaluing businesses being sold to UK insurer Resolution Life.
It also threatened to initiate a board spill if the queries in its letters are not adequately addressed by AMP.
AMP announced the proposed sale of its Australian and New Zealand wealth protection and mature businesses to UK in…
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