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ClearView ‘on track to hit targets’ after Q3 

ClearView Wealth says it performed “broadly in line” with expectation during the quarter ending March.

The life insurer’s MD Nadine Gooderick and CFO Athol Chiert told the Morgans Investor Conference last week that strong new business volumes, inflation-linked premiums, the higher interest rate environment and positive lapse experience offset adverse income protection and total and permanent disability claims experience.

Year-to-date new business rose 43% to $24.5 million while in-force premium grew 11% to $365.7 million.

The group says its life strategy is yielding results, with the business on track to meet its 2025-26 goals of new business market share at 12-14% and gross premium of $400 million.

ClearView made a first-half underlying net profit after tax of $17.3 million, up 37% on a year earlier. The result included a 32% surge in life insurance underwriting net profit after tax to $19.4 million.