Zurich says finalising its acquisition of ClearView Wealth is an “exciting moment” for the insurer.

The buyout was completed last week after securing shareholder, regulatory and court approvals. ClearView was removed from the Australian Securities Exchange on Friday following implementation of the scheme of arrangement.

“ClearView shareholders will receive cash consideration of 60c per share, equating to aggregate cash consideration of approximately $385 million,” Zurich said.

The Swiss insurer had about a 5.2% share of the life insurance market on revenue of about $1.3 billion last year, making it the fourth-biggest player in Australia, according to researcher IBISWorld.

ClearView Wealth reported $436 million in-force premium at December 31. It makes products for the $9.4 billion retail-advised life insurance market and has in-force market share of 3.9%, according to its 2025 annual report.

Zurich CEO Justin Delaney says the deal creates one of Australia’s “largest and fastest-growing life insurers at a time when advice-led protection, prevention and financial security have never been more important.

“By bringing together Zurich’s leading technology capability and balance sheet strength with ClearView’s established and well-regarded products and market relationships, advisers and customers will benefit from continuity of choice under the efficiency of a single, best-in-class platform.”

Zurich head of retail Tim Kane added: “This is an exciting moment which combines exceptional team capability and culture across two organisations which have a long history of delivering strong outcomes for Australian customers and advisers.”

He says Zurich will retain ClearView’s flagship ClearChoice product.