AMP Limited
AMP Limited, usually known simply as AMP, is an Australian financial services company providing life insurance, managed fundss, and other investment products. Formed in 1849 as the Australian Mutual Provident Society, a non-profit friendly society, the organisation demutualised in 1996, with all members (policyholders) receiving shares, which were listed on the Australian Stock Exchange. Since privatisation, the company share price and profitability have been very weak, mainly due to problems in its British operation. The British operation was the subject of a demerger in 2003.
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