Macquarie analysts on AMP Limited
According to analysis by Macquarie, AMP continues to struggle with its life insurance business, with losses greater than management expectations, due to worrying structural issues:
* step premium pricing
* upfront commission structures
* high automatic acceptance limits
* limited underwriting
* competition in terms and conditions
* higher frequency of mental health claims.
According to Macquarie, other parts of AMP are going well, and they are well-positioned for expansion into the SMSF market.