AMP has secured key regulatory approvals from China for its...

AMP has secured key regulatory approvals from China for its $2.5bn life insurance divestment to Resolution Life, as the wealth group forges ahead with the transaction and a turnaround strategy, according to sources.The Australian understands the China Banking and Insurance Regulatory Commission has indicated its support for the life deal in recent weeks.Closer to home, AMP continues to meet with the Australian Prudential Regulation Authority and the Reserve Bank of New Zealand on required approvals. The transaction also requires a sign-off by the Foreign Investment Review Board and Treasurer Josh Frydenberg.“AMP committed to providing progress updates on the sale of AMP Life as part of its regular financial reporting — the next update will be provided at AMP’s full-year results in February,” a company spokesman said, declining to comment directly on the China regulatory