https://www.amp.com.au/personal/insurance/products/insurance/life
https://www.reinsurancene.ws/amp-expands-reinsurance-agreements-move-release-capital/
Selling part or all of an insurers risk exposure to re-insurer is pretty normal activity and reduces working capital.
Global reinsurers have scale and geographic diversity that spreads risk across a wider population than that served by AMP's sales channels achieving an economy of scale, if you like.
Its like a globally diversified portfolio which has lower volatility than a narrow one, so costs less to insure. A win win transaction.
https://www.amp.com.au/personal/insurance/products/insurance/life...
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