Jan.13, 2017

Sony Life has entered into a Cooperation Agreement with ClearView Wealth Limited

Sony Life Insurance Co., Ltd. ("Sony Life"), a wholly-owned subsidiary of Sony Financial Holdings Inc., has formally entered into a Cooperation Agreement with ClearView Wealth Limited ("ClearView") today.

This agreement follows the acquisition of the 14.9% of total shares outstanding of ClearView that was completed and made public by Sony Life ("Sony Life has agreed to acquire an equity stake in ClearView Weath Limited (Australia) and announced business alliance") on the 25th of October, 2016. The Cooperation Agreement remains effective so long as Sony Life holds at least 10 per cent of the issued share capital in ClearView.

Overview of the cooperation

  • Sony Life and ClearView have agreed to cooperate, exchanging the best practice of each company through personnel exchanges, with a view to accomplish the following achievements at ClearView;

  • Expand ClearView's distribution network in the fast growing independent financial adviser market;

  • Enhance quality of the strategic advice to be provided by the aligned advisers;

  • Increase recruitment and productivity of high quality and skillful aligned advisers.

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    Outline of the personnel exchanges

  • General Manager of the Business Development Division of Sony Life has joined the board as a non-executive director of ClearView on the 13th of December, 2016.

  • Two secondees from Sony Life are expected to join ClearView towards February 2017 in order to accelerate the cooperation.

Market release made by ClearView is available on the following website. https://www.clearview.com.au/about-clearview/reports-and-presentations/asx-announcements

Company name

ClearView Wealth Limited

Establishment

  • MMC Contrarian Limited was founded as a listed investment company in December 2003.

  • The company was renamed to ClearView Wealth in 2010 upon arrival of new management team to re-launch new business model.

  • Crescent Capital Partners has acquired its stake in ClearView in 2012.

Headquarters

Sydney, NSW Australia

Representative

Bruce Edwards, Chairman

Listed exchange

Australian Securities Exchange

Key financial figures (June, 2016)

・Premium income 138 million AUD (The 11th largest insurer)

・Profit after tax 23 million AUD

・Total assets 1,989 million AUD

145 million AUD (11.4 billion yen) Exchange rate:79.06 yen per Australian dollar１.

１ Exchange rate is a spot rate applied on our foreign currency market transaction.

Sony Financial Holdings Inc. published this content on 13 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 January 2017 02:10:06 UTC.

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