Clearview Wealth Limited · ASX:CVW
Clearview Wealth — Shareholder Meeting (March 2016)
15 slides from Clearview Wealth's shareholder meeting presentation, Mar 30, 2016
Slide 1: 2011 AGM Chairman's Address and Presentation (ASX cover letter)
27 October 2011 The Manager Companies Announcement Office Australian Securities Exchange Level 4, 20 Bridge Street Sydney NSW 2000 Dear Sir/ Madam 2011 ANNUAL GENERAL MEETING CHAIRMAN’S ADDRESS AND PRESENTATION ClearView Wealth Limited will address shareholders today at its Annual General Meeting to
Slide 2: Address by Chairman Ray Kellerman: A Transformational Year
ClearView 2011 AGM Address by Chairman Ray Kellerman 27 October 2011 A TRANSFORMATIONAL YEAR The 2011 financial year was a transformational time for ClearView. We successfully integrated the life insurance and wealth management businesses acquired from Bupa Australia in June 2010, and demonstrated t
Slide 3: Market Outlook, Director Changes and Summary
MARKET OUTLOOK While focused on growing our business, we continue to closely monitor changes and trends in financial services as well as the global economy. Pending regulatory reforms and market uncertainty are creating challenges for all financial services companies in Australia. Global and nationa
Slide 4: Annual General Meeting – Simon Swanson, Managing Director
Annual General Meeting 27 OCTOBER 2011 SIMON SWANSON – MANAGING DIRECTOR
Slide 5: Transformational Year
TRANSFORMATIONAL YEAR YEAR END JUNE 2011 2010 CHANGE $M (unless stated otherwise) ClearView is a (1.0) n/a Underlying NPAT1 19.3 profitable, cash Reported NPAT2 8.7 2.4 260% Dividend per share 1.8 nil n/a generating business (cents, fully franked) with significant Underlying EPS (cents, fully dilute
Slide 6: Return on Capital Employed
RETURN ON CAPITAL EMPLOYED CAPITAL RETURN $248M $19.3M 250 $239M UNDERLYING NPAT 200 79 69 FY11 ROCE 14% $1.6 M 150 53 INVESTMENT 40 RETURN ON $M SURPLUS POST TAX CAPITAL 100 UNDERLYING BUSINESS LINE PROFIT ON CAPITAL EMPLOYED 126 $17.7 M 50 120 BUSINESS LINE PROFIT = 17.7/(120+126)/2 0 1 Pro forma
Slide 7: Embedded Value (EV)
EMBEDDED VALUE (EV)1 300.0 $259M $248M 39 EXCLUDES THE VALUE OF: 250.0 $223M 16 • future growth potential 11 • future franking credits (potential value 200.0 $45m) 63 46 54 • carried forward revenue tax losses and $M 150.0 unrecognised capital losses (potential Financial planning value $16m) Wealth
Slide 8: FY11 Operational Highlights
FY11 OPERATIONAL HIGHLIGHTS • Successfully integrated Bupa Australia’s life insurance and wealth management businesses • Extracted annual cost savings of $6.5 million • Strategic partner developments Bupa member base penetration started with MBF telemarketing pilots and member centres in preparati
Slide 9: FY2012 Goal
FY2012 GOAL TO TRANSFORM FROM A DIRECT LIFE INSURER AND RETIREMENT FOCUSED WEALTH MANAGEMENT COMPANY INTO A FULLY INTEGRATED LIFE INSURANCE AND WEALTH MANAGEMENT COMPANY ABLE TO COMPETE ACROSS THE BROAD SPECTRUM OF THE INDUSTY WITH ENHANCED DISTRIBUTION. 6
Slide 10: Platforms for Growth
PLATFORMS FOR GROWTH ADVICE INSURANCE STRATEGY PRIVATE LABEL PLATFORM • Advisers to become a significant life • High end offering to financial planners insurance sales channel* with a full wrap capability (outsourced to third party) • ClearView’s key differentiator is to provide advisers with access
Slide 11: Growth Engines
GROWTH ENGINES STRATEGIC PARTNERS BROADER DISTRIBUTION CHANNELS • Exclusive distribution agreements with Bupa Australia, Credit Unions and affinity • Direct to market groups who have over 3 million members • ClearView advisers GROWTH FROM • Independent advisers 1. Penetrating strategic partners’ mem
Slide 12: Regulatory Reforms
REGULATORY REFORMS REGULATORY REFORM EFFECTIVE DATE KEY REFORMS FOFA Reform 1 July 2012; Ban on risk commissions inside super 1 July 2013 (TBC); 2 year opt-in for fees; scaled advice Cooper Review N/A MySuper, SuperStream, intra-fund advice Henry Tax Review 2013 - Employee’s super contribution to in
Slide 13: Market Outlook
MARKET OUTLOOK LIFE INSURANCE WEALTH MANAGEMENT • Overall insurance industry including life • GFC has adversely impacted super has been stable... balances and led to a deferral of retirement to rebuild super balances • ...however lapse rates have tended to increase across the industry as a whole • C
Slide 14: Outlook
OUTLOOK • Year-over-year growth in pre tax profitability anticipated in FY2012 (subject to market conditions) Development of the infrastructure to expand insurance into advice market and increase wealth sales will be a focus in 1H Learnings from MBF telemarketing pilots & member centre rollouts
Slide 15: Annual General Meeting
Annual General Meeting 27 OCTOBER 2011