AMP Limited defends legal proceedings
Key points
- New class action filed against NM Super, AMP Superannuation, and Resolution Life Australasia
- Relates to allegations of higher insurance premiums for certain superannuation members
- AMP will defend the proceedings
Full summary
AMP Limited has announced that a new class action proceeding has been filed against N.M. Superannuation Proprietary Limited (N.M. Super) in the Federal Court in Victoria. The proceeding has also been commenced against AMP Superannuation Pty Limited (ASL) and Resolution Life Australasia Limited. The proceeding relates to allegations of higher premium payments by certain members of AMP's superannuation funds for life insurance (death only cover, total and permanent disablement cover and income protection cover) during the period 2019 to 2024. N.M. Super and ASL will defend this proceeding. Separately, AMP notes that a proceeding has been filed in the Supreme Court of New South Wales by Dexus Funds Management Limited (in its capacity as Responsible Entity of Dexus Property Trust and Dexus Operations Trust) against Collimate Capital Limited and AMP Group Holdings Limited. The proceeding arises out of the dispute between a Dexus entity and Macquarie Retail Pty Limited regarding the disposal of the Macquarie Shopping Centre, following the sale of the former AMP Capital business, and relates to the sale value of that property. AMP will defend this proceeding.
Summary generated by a large language model. Please interpret with care.