Shares in superannuation giant AMP tumbled 12.85% to $4.35 today, wiping almost $1.84 billion off its books.
AMP told investors this morning that it had faced abnormally high insurance claims and customer attrition rates in the past 5 months, particularly April and May.
AMP was the only company outside of the resources sector to have lost more than 10% in trading today.
The ASX 200 closed almost 1.5% lower today.
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