Zurich Australia to acquire ClearView Wealth for $295m

Core Viewpoint - Zurich Financial Services Australia has agreed to acquire ClearView Wealth for approximately A$415 million ($295 million), with ClearView investors set to receive A$0.65 in cash per share, pending regulatory and shareholder approvals by Q3 2026 [1][2]. Group 1: Acquisition Details - The acquisition is valued at A$415 million ($295 million) and ClearView investors will receive A$0.65 in cash per share [1]. - ClearView's board of directors has unanimously recommended the transaction [1]. - Completion of the acquisition is expected in Q3 2026, subject to necessary approvals [1]. Group 2: Strategic Rationale - Zurich Australia & New Zealand CEO Justin Delaney emphasized that the transaction combines Zurich's strong capital foundation with ClearView's established market presence, enhancing customer experience in the Australian life insurance market [2]. - ClearView is the holding company of ClearView Life Assurance, which collaborates with financial advisers [2]. Group 3: Financial Performance - As of June 30, 2025, ClearView reported A$413 million in in-force premiums [3]. - Zurich's recent financial results indicated a net income attributable to shareholders of $6.8 billion (SFr5.26 billion), up from $5.8 billion in 2024, and a business operating profit increase of 14% to a record $8.9 billion [5]. Group 4: Related Transactions - The acquisition of ClearView follows another planned acquisition by Zurich Insurance Group, which involves a takeover of Beazley valued at $10.8 billion [4]. - The Beazley proposal includes a cash offer for all shares at up to 1,335p (£13.35) per share, comprising 1,310p in cash and a dividend linked to Beazley's 2025 financial year [4].