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Doubts grow over future of NPI brand

NPI is set to become the latest brand to bite the dust following the

radical restructuring of AMP&#39s UK business.

The latest speculation on the future of the NPI brand follows comments made

by AMP group chief executive Andrew Mohl to the press that NPI as well as

Pearl would cease product manufacture.

AMP paid £1.5bn for NPI following its demutualisation in 1999.

AMP says it will still offer retirement and pension products but has not

yet decided how it would manufacture them.

However, it has indicated that it will focus its attentions on Henderson

Global Investors as its primary brand and manufacturer in the UK.

AMP has also indicated that it could also use its UK Contemporary Financial

Services holding company, which includes NPI and Towry Law, to provide the

life company wrappers required for pensions.

AMP UK spokesman Stephen Hoffman says: “It is too early to say what the new

products are going to be called. It makes sense for Henderson to be our

core manufacturer.”

Syndaxi principal Robert Reid says: “The company is now starting to take

some fairly serious action. It is a shame to see a good quality company

have to retrench in this way.”

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