AMP posted a 10 per cent drop in first-half underlying earnings, beating its guidance in June when the dual-listed financial services firm warned its wealth protection business struggled in the second quarter.
Separately, AMP said Craig Meller will take the top job next year.
Earnings fell to A$440 million in the six months ended June 30, from A$488 million a year earlier, the Sydney-based company said.
That was just above the A$415 million to A$435 million range AMP forecast in June when it faced poor claims and policy lapses in its Australian wealth protection unit. That unit reported a 52 per cent slump in earnings to A$64 million.
Net profit rose to A$393 million, or A13.5c a share, from A$373 million, or A13.1c, in 2012.