ClearView and Sony Life in ‘cooperation agreement’
Japanese insurer Sony Life's recently-acquired stake in ClearView Wealth Limited has resulted in the signing of a "mutually beneficial Cooperation Agreement" between the two companies.
The agreement, announced to the Australian Securities Exchange (ASX) today, will see the two companies sharing information and increasing their coordination to drive efficiency and growth.
Commenting on the agreement, ClearView Wealth managing director, Simon Swanson said the collaboration would see ClearView benefit from Sony Life's substantial expertise in product development, distribution and marketing.
He said both parties had agreed to share information in relation to best practice in financial advice, technology, internal operations and financial reporting practices.
Sony Life acquired a 14.9 per cent stake in ClearView last year and the Cooperation Agreement is effective for so long as Sony Life holds at least a 10 per cent stake in ClearView.
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