MMC acquisition of MBF Life and Clearview approved
MMC Contrarian has received regulatory approval of its acquisition of MBF Life and Clearview Retirement Solutions from BUPA Australia, which is set to be completed by 11 June.
In March this year, MMC announced it had signed agreements with BUPA to acquire its life insurance and wealth management businesses pending MMC shareholder and regulatory approval.
As part of the agreement, BUPA will maintain a stake in the performance of the company due to a 10-year distribution arrangement that ensures the ongoing sale of life risk and wealth management products to BUPA’s customers and the sale of private health insurance to MMC’s customers.
MMC also announced it would change its name to Clearview Wealth Limited following the acquisition.
Recommended for you
ASIC has cancelled the AFSL of global advisory group Brite Advisors after compensation was paid to an individual by the Compensation Scheme of Last Resort.
Having taken some “quite tough medicine” during its 18-month transformation program, Iress is now doubling down on organic growth in the delivery of its wealth technologies.
The RIAA Conference Australia 2025 will take place later this month, featuring a range of sessions designed for financial advisers.
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
