ClearView Wealth Limited (“ClearView” or “the Company”, ASX: CVW) today announced its results for the half year ended 31 December 2014.
ClearView is a specialist life, wealth and financial Advice business. As a non-bank aligned, Australian-owned life insurer with life and wealth licences, ClearView is a differentiated business with limited legacy issues. ClearView is positioning itself as a nimble challenger in the markets in which it operates.
Commenting on the half year result, Managing Director, Simon Swanson, said, “It is exciting to be part of a growing organisation such as ClearView as reflected by the performance of our business. The first half of the FY15 financial year included the successful merger and integration of Matrix, the upgrade to our LifeSolutions product range and the launch of WealthFoundations. ClearView continues to execute on its strategic plan and remains well positioned for continued growth with a supportive shareholder base.”
For the half year ended 31 December 2014, ClearView produced an Underlying NPAT of $9.9 million. Underlying NPAT has increased by $0.8 million (+9%) compared with that for the half year ended 31 December 2013. After removing the impact of the expenses incurred in implementing the new wealth platform, launching the new WealthFoundations product and the merger with Matrix, ClearView produced an adjusted Underlying NPAT of $11.3 million representing growth of 24% on the prior period.
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