ClearView Annual report 2024

Directors’ Report

This is outlined in further detail below:

Core Focus

Life insurance

Creating advantage through strategic transformation

Simplified Cloud-based Architecture

Smaller size with core Life focus

Speed to market

1

2

3

Exited November 2023

Exit in progress

Financial Advice

Wealth Management

We are targeting a market- leading, single policy administration system ( PAS ) with cloud-based architecture This technology provides significant product flexibility and customisation to change offerings efficiently and at scale

Our ambition is to be the best at Life Insurance, leveraging our size and simplicity as well as our data insights capability to make fast and informed decisions Our core Life strategy enables a singular focus on being easy to do business with and delivering a superior customer experience

We strive to continually understand the needs of our customers and respond quickly and appropriately We are developing the technological and business agility to address our customers and the changing market with speed and efficiency

November 2023 - Sale of Centrepoint equity stake for $15.2m cash

December 2023 - ClearView Trustee retired and ETSL appointed January 2024 - Sale of Investment Management business to Human Financial In progress - Unwind of life investment contracts upon SFT 1

1 SFT relates to the successor fund transfer of the ClearView Retirement Plan and related unwind of the life investment contracts

ClearView’s goal is to be the best at Life Insurance, moving from a mid-tier to a top tier player over time. Key focus areas to achieve this objective are as follows: • Focus on its core life insurance business by completing the full exit of non core businesses; • Completion of the strategic transformation journey and program of work; • Building out a strong foundation with a high performance culture, capability and management; • Executing on the core retail distribution strategy in the financial adviser market; and • Diversifying earnings through expanding product and distribution channels in the longer term (Horizon II).

Optimise

Protect

Diversify

Explore

Assess, prioritise and action Horizon II possibilities

End to end active portfolio management

Extract more value from what we have built

Get curious

20

ClearView Annual Report 2024

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