ClearView insurance business up 41 per cent

ClearView insurance business up 41 per cent



ClearView has reported an increase in its life insurance business for the year ending 30 June 2015, posting a net profit after tax of $15.3 million.

Announcing its company results via the ASX, ClearView reported a profit of $15.3 million in its life insurance operation, a growth of 41 per cent on the previous corresponding period.

Over the year, ClearView reported its in-force premium grew 32 per cent to $115.7 million along with a 26 per cent growth in new business to $34.5 million.

Across the whole of the ASX-listed business, ClearView posted an underlying net profit after tax of $20.5 million, a four per cent increase on the previous year.

“FY15 concludes a successful three-year strategy focused on building ClearView’s market position in the life insurance, wealth management and financial advice markets,” a statement from ClearView said.

“ClearView now has a growing life insurance business that is focused on the profitable segments of the market; a positive net flow wealth management business that is well positioned for growth with the convergence of superannuation and life insurance.

“[The company has also] continued to build a preferred home for leading financial advisers with the objective of operating strong advice brands with a focus on quality advice,” the statement said.

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