{"id":33369,"date":"2016-05-31T19:46:25","date_gmt":"2016-05-31T08:46:25","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=33369"},"modified":"2016-06-01T07:34:20","modified_gmt":"2016-05-31T20:34:20","slug":"clearview-benefits-from-competitors-networks","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2016\/05\/31\/clearview-benefits-from-competitors-networks\/","title":{"rendered":"ClearView Benefits From Competitors’ Networks"},"content":{"rendered":"

ClearView Wealth has reported that more than 60% of its advised life insurance business is written by advisers from licensees outside the group, and that in-force life insurance premiums have grown by 30% in the past ten 10 months.<\/p>\n

\"ClearView<\/a>
ClearView MD, Simon Swanson<\/figcaption><\/figure>\n

This growth came about despite ClearView having phased back on its direct insurance business volumes as part of an effort to redesign and redirect that business toward the mid-market.<\/p>\n

In a market update released by the group, ClearView stated its force life insurance premiums had grown to $142.3 million and that new business was up 8% to $30.1 million for the 10 months to 30 April 2015.<\/p>\n

Much of this growth came within ClearView\u2019s advised LifeSolutions portfolio where new business was up 20% to $26.4 million until the end of April with 62% of that business coming from third party advisers accessing third party Approved Product Lists on which ClearView was listed.<\/p>\n

ClearView said it would continue to focus on expanding its distribution reach and access to the third party adviser market after new business from that sector was up 44% with the prior comparable period with ClearView also lifting its exposure on APLs by 37% on the prior comparable period, to a total of 248.<\/p>\n

In the update ClearView stated that it had already flagged an intentional slow-down in its non-advice business in the first half of the 2106 financial year which it said resulted in 36% reduction in new business, equal to $3.7 million to the end of April.<\/p>\n

ClearView, Managing Director, Simon Swanson<\/strong> said this was the result of repositioning this business towards the mid-market, which he described as \u2018people who tend to buy private health insurance\u2019, with plans to ramp up that part of the business in the second half of 2016.<\/p>\n

The release of the figures was part of a market update used by ClearView to announce the issuing of 59 million new shares to raise funds to repay debt and drive growth.<\/p>\n

The offer would seek to raise $50 million dollars to repay a $45.5 million CBA Debt Funding Facility and to retain the remaining $4.5 million as capital for growth.<\/p>\n","protected":false},"excerpt":{"rendered":"

ClearView Wealth has reported that more than 60% of its advised life insurance business is written by advisers from licensees outside the group, and that in-force life insurance premiums have grown by 30% in the past ten 10 months.<\/p>\n","protected":false},"author":3,"featured_media":33388,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,4],"tags":[4247],"class_list":{"0":"post-33369","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-company-news","8":"category-products","9":"tag-feature"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/33369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=33369"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/33369\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/33388"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=33369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=33369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=33369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}