The former Australian Mutual Provident Society Building is representative of the development and continued rise in the importance of insurance and financial institutions in South Australia, and in particular, the Australian Mutual Provident Society. Completed in 1936, it was built as the new State headquarters of the AMP, replacing smaller premises built for the Society on the same site in 1880.
The building is also significant for being designed by the notable Adelaide architect Louis Laybourne-Smith, considered one of the key practitioners of architecture in South Australia in the first half of the Twentieth Century.
It is architecturally significant as a representative example of a 1930s multi-storey commercial building, now becoming rare in Adelaide, and is of high integrity. Its classically derived form and abstracted details illustrate one of the common architectural styles of the period. It is concrete framed in construction and fully integrates services such as lifts, external shutters and distributed heating systems within a centrally located services core. The building also includes an evaporative mechanical ventilation system, an innovative feature at the date of its construction. (Adapted from Danvers Architects Pty Ltd Conservation Plan 1996)