Please be advised that this conference is being recorded today, Thursday the 24th of February, 2022. I would now like to hand the conference over to your first speaker, Simon Swanson, Managing Director of ClearView. Thank you. Please go ahead. Thank you for joining us for ClearView's half year results briefing. My name is Simon Swanson, Managing Director of ClearView. This morning I'm joined by Athol Chiert, ClearView's Chief Financial Officer. In a moment, Athol will take you through the results in detail, but first I'd like to provide an overview and business update. ClearView is well positioned to capture future growth, underpinned by recent investments in technology, processes and people. This is supported by a fundamentally strong in-force portfolio. In FY 2022, ClearView has expanded its strategic focus from retention to growth, and its ability to increase new business volumes is driven by an investment in the new life insurance technology platform and underwriting engine, improved digital interfaces for advisors, which together will improve efficiency for advisors and add flexibility to ClearView's business. The launch of the ClearView ClearChoice product suite, with more sustainable margins in line with industry changes, and implementing the required structural changes to enable long-term growth, including the sale of our advice businesses to Centrepoint Alliance. Amidst the ongoing disruption and regulatory and structural change, I'm pleased with the performance and the momentum of the business in the half year period. ClearView has established a diversified distribution network with over 700 dealer groups, comprising of over 4,000 advisors. New business volumes have, in recent historic periods, been adversely impacted by broader market trends, including a disruption in the advisor market, aggressive pricing strategies from our competitors, and our focus on customer retention initiatives during this period. Historically, ClearView has demonstrated it has the ability to capture 10% of the IFA life insurance market. ClearView has an actionable growth strategy to take advantage of the projected rebound in the life insurance market, as shown by our increase in new business of over 24% in the half year. The investment in the business, which includes the launch of our new life insurance product series, ClearChoice, and the technology platform in October, underpins our growth strategy and aims to ensure our solutions are fit for purpose and we remain easy to do business with. The aforementioned sale of the advice business to Centrepoint Alliance, which was completed on the first of November 2021, enables ClearView to participate in Australia's financial advice industry through our interest in Centrepoint Alliance while separating the product manufacturing and advice arms of our business. While the majority of staff are currently working from home, the business continues to successfully maintain day-to-day operations with minimal disruption to our customers. That said, the recent Omicron outbreak has delayed the formal launch of our strategic review, and that has officially commenced this month. Originally announced in September 2021, the review aims to maximize shareholder value, determine the optimal future of the company, and enhance customer and policyholder outcomes. Various reports have been completed to support the review, and as part of the process, the board will assess ClearView's strategic options to unlock and enhance value for shareholders, including a potential change of control transaction. Although there are no assurances that the board will pursue any transaction. I'll now hand over to Athol, who will take you through our half year results in greater detail. Thank you, Simon. For the six months to 31 December 2021, our operating earnings from continued operations increased 14% to AUD 13.9 million following the sale of our advice businesses to Centrepoint Alliance on 1 November 2021. Underlying NPAT from continuing operations increased 5% to AUD 12.7 million for the half year. Interest earnings from capital has continued to be negatively impacted in the half year by ultra low interest rates and changes to the capital structure. The interest costs associated with the issue of the Tier two subordinated notes that arose from November 2020 impacted underlying NPAT by AUD 1.1 million after tax between periods. An increase in interest rates is overall a net positive for a business like ClearView, given its impacts on investment returns on the capital held by ClearView to support its in-force policies and the new business generation, and also the discounted cost of future income protection claims. Our life insurance gross premium income increased 7% to AUD 147.6 million. New life insurance business volumes increased 24% to AUD 10.4 million. Funds under management increased 19% to AUD 3.6 billion off the back of positive net inflows into contemporary wealth management products. This is a solid result reflecting ClearView's strong balance sheet and recurring revenue base, improving life insurance claims and NAS performance and resilience to the COVID-19 impacts. The result also reflects an 89% increase on reported profit after tax of AUD 18.2 million, driven by the sale of the advice businesses. Page seven of the presentation delves deeper into the performance of the life insurance segment, which contributed circa 96% of group operating earnings after tax. We continue to see a steady improvement in the performance of our life insurance business, due largely to positive claims and NAS performance relative to the assumptions adopted. For the half year period, life insurance operating earnings of AUD 13.4 million was achieved. That represented an 8% increase on the previous corresponding period. In wealth management, on page eight, our operating earnings after tax increased 95% to AUD 1.1 million. The work to simplify the wealth management business continues and is expected to progressively lead to cost base reductions over time. Simon has already touched on the sale of their advice businesses, but the slide on page nine lists the associated benefits. In short, the transaction has given ClearView a stake in a much larger advice business with scale, a strong management team, best-of-breed technology, and the capability to build a profitable market-leading advice business. Our balance sheet reflects net assets of AUD 474.2 million or AUD 0.741 per share. We have a net surplus capital position of AUD 19.2 million at 31 December 2021, which is backed by net cash and investments of AUD 385.1 million. ClearView's investment portfolio is large and short in duration with appropriate asset liability matching. As mentioned earlier, an upward movement in interest rates positively impacts our underlying earnings. There is a strong capital base and cash generation that is implicit in our embedded value. The embedded value is AUD 651 million or AUD 0.973 per share as at 31 December 2021. I'll now hand back to Simon to take you through the key business highlights and outlook. Thank you, Athol. The next five to six slides illustrate the fundamental attractiveness of the life insurance sector. While it has faced challenges in recent years, the enduring relevance and importance of life insurance is undeniable. Furthermore, we believe that long-term demand for quality life insurance and wealth management solutions will be supported by record levels of household debt, Australia's compulsory superannuation savings system, and the increasing complexities of life. ClearView is also poised to benefit from consolidation in the market as advisers seek to expand and diversify the number of insurers they use. Around 20% of advisers are actively looking to use another insurer in the next 12 months, and a further 27% are open to forging new relationships, according to the 2021 Investment Trends Planner Risk Report released in December 2021. Our significant ongoing investment in technology, products, and processes ensure that ClearView is well positioned to capture this opportunity. Page 15 is a snapshot of the transformation projects that have been delivered during the last year and the ongoing projects, including the simplification of the wealth management business and the development of a digital customer portal to drive engagement and loyalty. Our transformation initiatives are designed to ensure that ClearView remains easy to do business with and continues to meet the changing needs of our current and future customers. ClearChoice, alongside our new life insurance technology platform, is the cornerstone of our transformation program and a key part of our response to APRA's IDII measures. APRA's measures, which are detailed on slide 16, saw a wave of new life insurance and income protection solutions, including ClearChoice, hit the market in October. It is still early days, but we are pleased with the interest and support for ClearChoice. As shown on page 17, ClearChoice is an integral part of our growth strategy, alongside enhancing the functionality of our life insurance technology platform, driving customer engagement and loyalty, and continuing to improve claims and lapse management outcomes. After a period of internal focus on business transformation, our attention is increasingly on sales growth and expanding the breadth and depth of our distribution base of 700 odd dealer groups and over 4,000 advisers. Clear targets and objectives have been set for the second half of financial year 2022. Turning to page 20, the outlook for ClearView is positive. The life insurance sector is attractive for many reasons and profitability is improving. For the first time in a long time, the volume and pace of regulatory change is easing, and consolidation creates opportunities for a nimble, efficient, and locally focused mid-tier player to gain market share. Overall, this is a solid half year result for ClearView, and I'm pleased with how the business is performing. We have a clear strategy supported by a strong balance sheet and a recurring revenue base. Solid growth in operating earnings after tax and further growth in FY 2023 are supported by our investment in technology, processes, and people, and our commitment to business transformation. Further information will be provided on the strategic review in due course. Thank you for your interest, and I'm happy to take questions through the operator. Thank you. Ladies and gentlemen, we will now begin the question and answer session. If you wish to ask a question, please press star one on your telephone keypad and wait for your name to be announced. If you wish to cancel your request, please press the pound or hash key. Once again, it is star one to ask a question. Your first question comes from the line of Glen Wellham from MST Financial. Please ask your question. G'day, guys. Another great result. First question is just a little bit more clarity around the strategic sale. It sounded like you've put together a number of reports and supporting documents, but you're yet to sort of do a formal process of going to potential investors or buyers of the majority stake. Is that true? That's a fair summary of it. We've done a fair bit of work on Vendor due diligence, Glen, and we've now got the process underway. Great. Thanks for that. Just on Wealth Management, well done on the return to profitability in that segment. Just looking at the operating expenses, you had about AUD 8.1 million of operating expenses in the half, which is only slightly down from AUD 8.3 million in the previous corresponding half. Just wondering when those improvements in expenses will come through in terms of timing and what sort of amount would it be, just roughly? Thanks, Glen. I think as we sort of articulate, the wealth business is going through a simplification process. In the second half of the year, we talk about the transition of the traditional product into the WealthFoundations product. With that, once those products are integrated in the second half of the year, then post that, we would expect there to be some cost efficiencies that come out. At the same time, there will be a margin compression because it does move from the traditional to the WealthFoundations product, which is a more contemporary product. You would start to expect those cost efficiencies to come through from our next financial year after those products are moved across in the second half of the year. Great, thanks for that. Just one final question. On the distribution base that you've got at the moment, and the target towards expanding sales, what strategy are you adopting to expand that, you know, 4,000+ advisors that you've had for some time into the future? Oh, look, it's mainly around putting on a number of digital type BDMs, Glen, and actually increasing our share of wallet through the distribution footprint that we have today. It's not about necessarily getting more advisors per se, it's about getting a greater share of wallet through the ones we have. Great. I think an important thing as well, Glen, is that the markets are set at an inflection point where you feel that the pie could start growing as well, as opposed to the more historical trend of the narrowing of that, given the changes in the regulation around advisors, their focus. Notwithstanding across the advisor spectrum, advisor numbers may come down. Overall, you may find over time that the pie itself increases back up over time. Yes. Our information, Glen, is the last three quarters has been the first time it's been positive for a long time. Great, thanks for that. Actually, just one final question. Just in terms of the IT systems, you've spent a lot of time and effort over the past few years in improving those. Are you able to turn old systems off and save further money going forward or, you know, what's the sort of integration process? Yeah, it'll take another year, so that'll be going into 2024 where we can turn systems off, Glenn. We still have some more work to do to migrate our old life insurance system onto the new one. Great. Cool. Thanks for that. Once again, ladies and gentlemen, if you would like to ask a question, please press star one on your telephone keypad now and wait for your name to be announced. We have no further questions from the telephone lines. I would now like to hand the conference back to your presenters. Thank you, and please continue. Oh, look, we'd just like to say thanks for listening, and we'll look forward to keeping the market informed as things progress. Thank you. Thank you, ladies and gentlemen. That does conclude our conference for today. Thank you for your attendance. You may now disconnect.