A Japanese life insurance company has acquired a 14.9 per cent stake in ClearView Wealth, as the two companies begin collaborating to grow ClearView’s distribution channel with IFAs.
According to an ASX announcement, Sony Life Insurance agreed with Crescent Capital Partners to invest in ClearView. The life insurer will be represented on the ClearView board through an appointment of a non-executive, non-independent director.
The two companies agreed to collaborate with a view to growing ClearView’s distribution network in the “fast-growing” IFA channel.
They will also seek to enhance the quality of strategic advice provided by aligned advisers, and increase recruitment and productivity of high-quality and skillful aligned advisers.
ClearView and Sony Life share a similar philosophy in providing quality products and financial advice, the companies said in a statement.
“We are delighted to welcome Sony Life as a shareholder in ClearView,” ClearView managing director Simon Swanson said.
“We believe they will be able to bring significant experience to ClearView as we look to continue to grow our business.”
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