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AMP poised to win NPI auction

Saturday 19 December 1998 00:02 GMT
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AMP poised to win NPI auction

AMP, the Australian insurance group is poised to win the bidding for NPI the mutual insurer which put itself up for sale three months ago. Barring unforseen last minute hitches a deal could be announced early next week. AMP is believed to have offered around pounds 2.6bn pipping rivals CGU and Britannic who yesterday effectively conceded defeat. NPI's 500,000 policyholders could be in line for windfalls averaging pounds 1000.

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