Zurich Financial Services Australia has finalised its purchase of ClearView Wealth through a members’ scheme of arrangement (SoA). <\/p>\n
Under the deal terms, ClearView shareholders will receive A$0.60 per share in cash, taking the total cash consideration to roughly A$385m. <\/p>\n
Zurich Financial Services Australia first announced the agreement to acquire ClearView Wealth in February this year. <\/p>\n
The transaction proceeded after clearance was obtained from the Australian Competition and Consumer Commission (ACCC) and the Australian Prudential Regulation Authority (APAR), alongside sign-off from ClearView shareholders and the Supreme Court of New South Wales. <\/p>\n
Zurich retail head Tim Kane said: “Zurich will retain ClearView’s ClearChoice product, which will remain open to new customers alongside our existing Zurich and OnePath Life offerings. <\/p>\n
“Across all three propositions, we will continue our significant investment in leading technology and people to ensure we are meeting the evolving needs of customers and advisers and delivering the outstanding service we are known for.” <\/p>\n
ClearView, listed on the Australian Securities Exchange, is the parent company of ClearView Life Assurance, a life insurer in Australia that works alongside financial advisers to support Australians and their families in planning ahead. <\/p>\n
The company recorded A$436m in in-force premiums as of 31 December 2025. <\/p>\n
A members’ SoA refers to a formal, statutory process requiring court approval, through which a company and its shareholders agree to reshape the corporate structure, amend shareholder rights, or carry out a friendly takeover. <\/p>\n
Zurich CEO Justin Delaney said: “This transaction marks the creation of one of Australia’s largest and fastest-growing life insurers at a time when advice-led protection, prevention and financial security has never been more important.” <\/p>\n
Elsewhere within the group, Zurich established<\/a> a branch in Warsaw, Poland, in April, enabling it to begin underwriting commercial insurance in the country via Zurich Austria. <\/p>\n In another development, Zurich Commercial Insurance extended<\/a> its Data Center Project Guard product internationally in June, launching in Brazil, Germany, Italy, the Nordics and Spain following its initial US rollout in January 2026. <\/p>\n The product, originally created by Zurich North America’s construction division, secured business within weeks of debuting in the US before being extended to the five additional markets. <\/p>\n