Clearview Wealth (CVW) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional custodians and confirmation of quorum.

• Directors, executive team, and auditors introduced; voting procedures and Q&A process explained.

• Agenda included financial performance, board updates, resolutions, and Q&A.

Financial performance review

• FY 2024 saw strong growth despite economic headwinds, with new business life premium up 34% to AUD 33.7 million and gross premium up 10% to AUD 358.1 million.

• Underlying impact for the life business rose 25% to AUD 35.3 million, with an 11% margin.

• Market share of new business increased to 11% from 9.2% in FY 2023, supported by product and pricing improvements.

• Claims paid totaled AUD 134.9 million to 1,040 customers in FY 2024.

• First quarter of FY 2025 saw a material increase in claims, especially in legacy TPD and income protection products, resulting in a AUD 6.2 million after-tax claims experience loss.

Board and executive committee updates

• Board highlighted successful completion of policy administration system build and ongoing migration of legacy policies, expected to finish by FY 2026.

• Directors Michael Alscher and Nathanial Thomson stood for (re-)election; board recommended their election.

• Board and executive team commended for contributions, especially regarding AASB 17 implementation and wealth exit.