Zurich Strikes Deal to Buy ClearView in $415 Million Life Insurance Move

24 February 2026

Zurich Financial Services Australia has agreed to acquire ASX-listed ClearView Wealth for $415 million via a scheme of arrangement, with shareholders set to receive 65 cents per share. ClearView, which owns ClearView Life Assurance and has $413 million of in-force premiums, specializes in adviser-distributed life insurance, making the acquisition attractive for Zurich’s growth in the advised life market. The deal highlights the value of established in-market relationships and infrastructure, with advisers concerned about continuity of products, underwriting, and service during integration. Consolidation could improve client experience through digital onboarding and automated claims, but may reduce product diversity if Zurich standardizes offerings over time. The transaction requires regulatory, shareholder, and court approvals, with completion expected around Q3 2026, leaving room for potential rival bids and market adjustments.

Manulife Sells Life Insurance Policy for Record US$300 Million in Singapore

23 February 2026

Manulife Financial Corp issued a US$300 million life insurance policy in Singapore, setting a new Guinness World Record for the most valuable individual policy ever. This surpasses the previous record of US$250 million set by HSBC Life in Hong Kong in 2024. The record policy highlights growing demand from ultra-wealthy clients seeking to protect and preserve their assets. Over the past 12 months, Manulife has issued 25 policies in Singapore valued at over US$50 million each. Singapore’s billionaire population, currently 55 individuals with combined wealth of US$259 billion, underpins the market for such high-value life insurance products.

St Andrew’s Enters New Zealand Life Insurance Market

19 February 2026

St Andrew’s Insurance Group has re-entered the New Zealand life insurance market through a partnership with Neilson Financial Services, launching tailored products including Golden Insurance for New Zealanders aged 40–80. The partnership leverages Neilson’s digital distribution, customer engagement, and data-driven product design to efficiently bring adapted life insurance solutions to the market. St Andrew’s aims to serve underserved segments, offering simple, transparent policies that mirror its Australian offerings but comply with New Zealand regulations. The move reflects the company’s commitment to expanding access to life insurance and supporting financial security for families in New Zealand. Industry projections indicate strong growth in the New Zealand life sector, with gross written premiums expected to rise from $5.9 billion in 2024 to $8.3 billion by 2029, driven by demographic changes and increased demand for personal protection products.