Wealth management firm AMP has reported a slight fall in its full-year profit.

The company made $672 million in 2013, which is 2 per cent lower than its $689 million profit the previous year.

AMP says the result has been negatively affected by challenges in the life insurance sector.

The company will pay shareholders a final dividend of 11.5 cents, taking the full-year dividend to 23 cents per share.

More to come.