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AMP Life head to take CEO role under new parent

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Megan Beer has been appointed AMP Life CEO and will continue leading the business after its sale to international insurer Resolution Life is completed in the second half of the year.

Ms Beer, who has led AMP’s insurance business since joining from NAB five years ago, was also named Resolution Life Australasia CEO.

“She is one of the most experienced and respected insurance executives in Australia and the wider region,” Resolution Life founder and Executive Chairman Clive Cowdery said.

“Her market knowledge and insights will be a considerable asset in building the Resolution business in the region once the transition of the AMP business to Resolution is complete.”

Ms Beer has also been responsible for the strategy team at AMP.

At NAB she held roles including GM bancassurance and direct. She previously served as chief actuary, chief risk officer and head of claims at Tower.

AMP has also announced that Alex Wade will lead Australian wealth management, taking over an expanded role from Paul Sainsbury, who is currently Group Executive Wealth Solutions and Customer.

Blair Vernon will lead AMP’s New Zealand advice and wealth operations, and Craig Ryan has been appointed to the expanded role of COO.

CEO Francesco De Ferrari says the changes establish clear accountabilities for separation of the insurance and mature businesses this year, and establish the direction of the “new AMP”.

AMP announced the life sale last October amid deteriorating profitability in the sector.