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Just when you thought the worst was over for the AMP Limited (ASX: AMP) share price, the second round of a sell-off could be just around the corner.

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It was the revelations in the first round with the Royal Commission that drove AMP to a 15-year low of $3.30 last month as the firm came under fire for defrauding financial advice clients.

Blue Electro Acoustic Guitar With Amp Stock Photo By ©fedor.p.e95.gmail.com 147126279

Shares are likely to fall again when they return to the Royal Commission to answer questions about general and life insurance practices.

It’s not the only major insurer that will have to declare. Suncorp Group Ltd (ASX: SUN) and Insurance Australia Group Ltd (ASX: IAG) also reported, according to

The Royal Commission’s inquiry into the insurance sector will focus on the sale and design of life and non-life insurance products, the handling of claims arising from life and non-life insurance policies and the management of life insurance by pension trustees.

The investigation comes amid allegations that life insurance policies unsuitable for their circumstances are being sold to young retirees with low account balances.

Why Is The Amp Share Price Bouncing Back?

The government is considering banning the practice, but that could lead to a jump of up to 26% in life insurance premiums for everyone else, according to KPMG estimates.

Local insurance companies have also been under pressure recently due to the high number of life and natural disaster claims. The AFR reports that this is the reasoning behind Commonwealth Bank of Australia’s (ASX: CBA ) decision to sell its life insurance business to AIA, and Suncorp said last month it was also divesting its life insurance division.

But AMP is likely to be in the worst position amid lingering doubts about the viability of its business model, despite posting a reasonable first-half result three weeks ago.

Don’t be fooled by the seemingly low AMP score. It’s not a bargain and the stock is likely to fall for a reason other than the Royal Commission.

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The group has just appointed a new CEO Francesco De Ferrari and I expect him to clear the decks like most new CEOs do when they take over a burning ship.

That means it’s likely to reveal more shocks to investors in the near term as the deal rolls out. I would wait for this event before deciding whether to return.

The experts at The Motley Fool have chosen three of their best ideas for FY19, and you can find out which ones are free by following the link below.

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The AMP Ltd (ASX: AMP) share price fell 12% on Thursday morning after the diversified ASX financial stock revealed its FY22 results to the market.

AMP explained that its underlying NPAT declined mainly due to investment market volatility hitting AUM. There was also “strategic appreciation” in the wealth management business and a reduction in net interest margin (NIM) – loan performance – for AMP Bank.

However, AMP was able to tell investors that these headwinds were partially offset by ongoing cost-cutting. Across the group, costs were down by $54 million (excluding discontinued operations of AMP Capital).

AMP highlighted that this was a “solid financial performance in a challenging macro environment”, while there had been “significant progress” in its strategy to simplify and reposition AMP.

Amp (amp) Price Prediction 2023 2024 2025 2026

In 2022, AMP also announced the sale of Collimate Capital’s international infrastructure business to DigitalBridge for an initial consideration of A$462 million, for a total value of up to A$699 million.

Our earnings for the year reflect the challenging economic environment we are facing, as well as strategic decisions to reassess our Master Trust and Platform offerings to deliver highly competitive and attractive offerings. We are seeing positive momentum around the transformation of our advisory business, where we have more than halved our losses and our core growth businesses – AMP Bank and Platforms – are starting to benefit from the investments we are making in these businesses. On our flagship platform in the North, we continue to grow our share of the independent financial advisor market. What’s next?

It wants to complete the remainder of its share buyback and other capital management initiatives to return $1.1 billion to shareholders while maintaining a prudent approach to capital management.

AMP will continue to simplify the business, maintain cost discipline and drive the transformation of its consulting division to become a viable and self-sustaining business.

Amp Shares Up On Rumours Of Macquarie Group Tilt At Embattled Wealth Manager

The ASX financial stock is looking to grow its bank through its digital channels while growing the financial advisory side of the business with better customer and adviser service.

Finally, management wants to explore new growth opportunities, including neighboring markets. He also wants to continue to incorporate new purposes and values ​​into AMP.

Although 2022 was a rebound year, AMP’s share price is up only 5% in the last six months since today’s crash.

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Amp Shares Hit All Time Low

Shares in AMP rose after the company told shareholders on Investor Day that the spin-off of its private markets business AMP Capital is on track to complete in the first half of 2022 and outlined future strategies and directions for both businesses

AMP said it will operate as a retail wealth manager in Australia and New Zealand, repositioning its core competencies for growth in the banking sector.

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