Clearview Wealth : Market Release - Year End Update, Debt Funding and share buy-back

As indicated at the Annual General Meeting (AGM), strong life insurance sales have continued since June 2014. Total life insurance inforce premiums now exceed $100 million. Superannuation and investment monies on our WealthSolutions and the recently-launched WealthFoundations platforms now exceed $500 million.

The Board has determined that entering into a Debt Funding Arrangement is both the most cost effective and efficient way to support the current funding needs of ClearView over the short to medium term. ClearView advises that it has entered into a $50 million 3 year facility with Commonwealth Bank for this purpose.
It is intended that the funding provided under the facility will be replaced in due course with one or more longer term capital solutions as the need for, and quantum of, longer term capital funding emerges.

As has previously been stated, the Board of ClearView considers that buying back shares in circumstances where the share price is below the Company's view of intrinsic value is in the best interests of ClearView shareholders.
The Board has determined to extend, for an additional 12 months, its share buy-back that has been in place since 19 December 2013. The buy-back arrangements currently in place will continue to apply. In the past 12 months, 510,252 shares have been bought back.
ENDS

For further information, please contact:

Simon Swanson

Managing Director

+612 8095 1588 simon.swanson@clearview.com.au

ClearView Wealth Limited is a diversified Australian financial services company with businesses that provide integrated life insurance, wealth management and financial planning solutions.

Additional information is available at www.clearview.com.au

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