ClearView lifts underlying 1H profit 34.8%

ClearView's underlying net profit for the six months to December 31 was up 35 per cent to $13.4 million, but its statutory profit was down 2.5 per cent.

Life insurer and financial adviser ClearView Wealth has reported a 2.5 per cent drop in first half net profit to $7.54 million.

Underlying net profit for the six months to December 31 was up 35 per cent to $13.4 million, but the bottom line was affected by a $4.59 million writedown in intangible assets and other one-off impairments.

Clearview said it expects to benefit from proposed changes to increase competition in the life insurance industry but that it will likely require capital.

There will be no interim dividend.