Street Talk’s eagle eyes have spotted a major player lurking in ClearView’s data room.
Already a subscriber?This column understands insurance giant Allianz Australia had been weighing a run at Australia’s last remaining independent life insurer of scale, and was in due diligence as recently as March.
ClearView, established in 2010, manages over $350 million in active premiums representing market share of 3.3 per cent. Its shares have struggled in the past, falling from highs above $1.50 in 2018 to 22¢ at the depths of the COVID-crash, but has climbed 9.4 per cent over the past year, last trading at 58¢ with a market capitalisation of $385 million.
ClearView got busy last year, selling its 24.5 per cent equity stake in financial planning business Centrepoint Alliance to COG Financial Services for $13.05 million to solely focus on life insurance. Managing director Simon Swanson retired after 12 years at the top in May 2023.
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