April 11, 2025 – Sydney — ClearView Wealth Limited is on track to maintain financial stability following its strategic pivot toward core life insurance operations, according to a recent assessment by Fitch Ratings.
The company’s exit from non-core businesses, particularly its wealth management division, has streamlined its operations and is expected to enhance long-term profitability. The divestment, while a key step in the company’s transformation, contributed to a net loss of USD 7.88 million (AUD 12.5 million) in fiscal year 2024, largely due to a USD 12.29 million (AUD 19.5 million) loss from discontinued operations.
However, ClearView saw a notable recovery in the first half of 2025, posting a net profit of USD 10.02 million (AUD 15.9 million). The improvement was driven by a reduction in losses from discontinued operations and a normalisation of insurance claims, which had spiked during the first quarter of the year.
The insurer has also implemented portfolio repricing to reflect updated reinsurance costs and actuarial assumptions—a move expected to improve profit margins going forward. In-force premiums rose 8% year-on-year in H1 2025, signaling ongoing customer retention and policy growth. However, new business declined by 7%, following a surge in policy uptake during fiscal 2024.
ClearView is also investing in operational efficiency through the migration to a new technology platform. The company’s push for digital transformation is expected to reduce costs and improve service delivery.
By the end of 2024, ClearView had secured approximately 2% of the total assets within Australia’s retail life insurance sector, indicating continued progress in gaining market share.
Fitch Ratings noted that ClearView’s sharpened focus and tech-driven approach are likely to support its financial profile over the medium term, reinforcing confidence in the company’s ongoing transition.
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