Life insurer ClearView Wealth says its simplification drive helped raise first-half earnings.

Group underlying net profit after tax surged 77% to $22.1 million, lifted by a 59% rise in underlying life net profit to $24.1 million.

Gross premium income grew 13% to $215.6 million and new business written in the December half increased 29% to $21 million.

MD Nadine Gooderick says the results reflect the “strong business performance in growth that is being driven by the successful execution of our simplification and transformation strategy”.

ClearView completed its exit from wealth management in March last year, to focus on life insurance. It now operates in the retail advice channel only and has a closed direct life portfolio.  

First-half gross premium income totalled $215.6 million, up 13%. In-force premium also increased 13% to $436 million.

The insurer’s flagship ClearChoice product suite now represents 30% of the in-force portfolio and drives new business. The LifeSolutions and non-advice portfolios are closed.

ClearChoice was on 1074 approved product lists as of December 31, providing access to more than 5500 active advisers and an expanded footprint, according to the half-year financial report.

The insurer has retained its 2025-26 earnings guidance. It is expecting underlying net profit after tax of $47-$52 million and gross premium income of $435-$440 million.

Ms Gooderick says management remains focused “firmly on delivering strong performance” and it is “business as usual” after ClearView’s board backed a buyout proposal from Zurich.

Fitch Ratings says the acquisition “could support Zurich’s competitiveness in Australia, particularly in the retail advised life segment, where ClearView has a strong presence”.