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Weekly Life Insurance News Roundup

July 16th, 2012 | Posted by Editor in News

BT’s life policies to fuel profit
BT Financial Group says growth in life insurance will be second only to superannuation over the next five years as it outlines plans to capture a larger share of Australia’s national wealth pool.

BT flags wealth “land grab”
BT Financial has launched a new aligned dealer brand as part of the group’s broader ambition to grow by securing a larger chunk of superannuation and life insurance assets. The new brand, BT Select, is a business-to-business group targeting multi-partner independent financial adviser practices. The target is 120 practices to be assembled over three years with the key method of recruitment being direct contact.

Life risk insurance defies gloom to post steady growth
In an environment where superannuation and investment funds under management remains stifled, life risk recorded steady growth during 2011, according to new research by DEXX&R.

ClearView snaps up six practices in July
Clearview Wealth has recruited six new financial planning practices in July, bringing the total number of advisers in the dealer group to 78. The number of financial advisers operating under the ClearView licence has increased by 21 since 31 December 2011, according to a statement by the company.

Life/risk churn not systemic, claims AFA
The Association of Financial Advisers (AFA) is arguing that while ‘churning’ exists with respect to advisers selling life/risk products, there is no evidence to support that it is widespread or systemic.

GPG not tempted by takeover offer for Clearview
THE biggest single shareholder in mid-size life insurer Clearview Wealth will resist a $220 million takeover, labelling the private equity offer ”wholly inadequate”. The listed Clearview has nevertheless been put in play by Crescent Capital Partners’ 50¢-a-share all-cash offer.

PE firm makes ClearView bid
An Australian private equity manager has made an off-market takeover bid for all shares in ClearView Wealth Limited.

This material is not intended to constitute personal advice, and must not be relied on as such. This information has been prepared without taking into account your objectives, financial circumstances or needs. Before making a decision based on this material, you should consider the appropriateness of this material having regard to your own objectives financial circumstances and needs. You should consider obtaining independent advice before making any decision.

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