Jul 28, 2026 – 5.00amA low-profile, long-running partnership between AMP and Beijing-headquartered insurance giant China Life is expected to account for one-third of the Australian wealth management firm’s profits next year, turning the 177-year-old financial institution into an unlikely growth stock.The partnership with China Life, which is listed in Hong Kong and Shanghai and has a market capitalisation of $240 billion, dates back to discussions in 2003. It was formally established a decade later, in early 2014.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Knockout Chinese profits transform 177-year-old AMP into growth stock
A partnership with a Beijing-based insurance giant has long been ignored by investors but is now turning into a river of gold for the local financial giant.
TL;DRAI
AMP's China Life partnership ($240B, HK/SH-listed) to yield one-third of 2026 profits, turning the 177-year-old Australian wealth manager into a growth stock. Signals how partnerships with Asian mega-firms reshape Western financial services; critical for multinationals assessing geographic and partnership strategies.
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