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ClearView Wealth Limited ClearView Market Release 24 February 2021 ClearView reports solid HY21 result , underpinned by strong . claims performance Diversified financial services company , ClearView Wealth Limited ( ASX : CVW ) has reported Operating Earnings After Tax¹ of $ 13.1m for the half year ended 31 December 2020 , up 39 % on the previous corresponding period . The strong HY21 result reflected the Group's resilient business model and a material improvement in claims management outcomes , amidst challenging market conditions . Underlying net profit after tax² ( NPAT ) increased 27 % to $ 13.0m and reported NPAT remained relatively flat . ClearView also announced its intention to reinstate its FY21 dividend ( in line with its dividend policy ) , subject to its capital position and 2H21 performance . Results summary • Life insurance gross premium income up 7 % to $ 133.3m Life insurance Operating Earnings After Tax¹ up 55 % to $ 12.4m Strong claims performance and limited COVID - 19 impacts to date Lapse experience loss impacted by price increases on income protection Funds under management passes $ 3b Transformational projects on track to hit key milestones Interest earnings on capital impaired by ultra - low rates and capital structure changes FY21 updated Underlying NPAT² guidance of $ 21- $ 25m³ , 4,5 Business is on track to meet its medium to long term performance improvement objectives Commentary ClearView remains focused on supporting staff and customers impacted by COVID - 19 and enacting transformational change through the delivery of key milestones including a new life insurance policy administration system and life insurance product series and enhanced superannuation and investment offerings to accelerate the growth of the Group's Wealth Management business . 1 2 3 Operating Earnings ( after tax ) represents the Underlying NPAT² of the business segments before underlying investment income and interest costs associated with corporate debt and Tier 2 Capital . Underlying NPAT consists of consolidated profit after tax excluding amortisation , the effects of changing discount rates on policy liabilities and costs considered unusual to the Group's ordinary activities . Includes amortisation of capitalised software and leases . Key potential impacts that are critical to the attainment of the guidance provided are the achievement of best estimate assumptions in 2H FY21 ( in particular for claims and lapses ) and the secondary economic impacts of COVID - 19 , and the flow on effects to IP claims and affordability of premiums . While estimates and allowances have been made in the claims and lapse assumptions adopted , given the fluidity of the COVID - 19 pandemic and operating environment , potential impacts from any deterioration in economic conditions or unanticipated delays in the roll out of the vaccine , actual experience relative to assumptions adopted will need to be closely monitored with the related flow on effects to the guidance provided . Includes a $ 1m impact on Underlying NPAT in the second half from interest costs associated with the subordinated debt that was raised in November 2020 . 4 5 Group Underlying NPAT2 guidance of $ 20-24m was previously provided . 1 | CLEARVIEW WEALTH LIMITED