AMP Ltd (AMP.AX)
SYDNEY, Oct 31 Ratings agency Standard & Poor's said on Monday it had lowered its outlook on AMP Bank, an arm of Australia's top insurer, AMP Ltd, and Macquarie Group to 'negative' from 'stable'.
* A$668 mln goodwill impairment charge for wealth protection unit
Oct 28Australian shares ended lower on Friday and capped their biggest weekly loss in four months, dragged down by financials, after profit warnings from AMP Ltd and Australia and New Zealand Banking Group rattled market sentiment.
Oct 28 Australian shares fell for a third straight session on Friday and on track for their biggest weekly loss in eight months, as financials were hit after Australia and New Zealand Banking Group and AMP Ltd issued profit warnings.
* Deterioration in insurance sector over course of 2016 has "significantly" impacted performance of wealth protection business
SYDNEY, Oct 28 AMP Ltd, Australia's biggest retail wealth manager, said on Friday it will take an impairment charge of A$668 million ($507 million) for its wealth protection unit as structural changes reduce the division's earnings.
* Shares hit 1-month lows in weak broader market (Rewrites throughout with sector context, analyst comment)
SYDNEY, Aug 18 Australian wealth manager AMP Ltd said on Thursday that first-half underlying profit fell 10 percent owing to tough market conditions and higher claims in its income protection insurance business.