The last time ClearView Wealth Ltd was jilted at the altar, it was due to Japan’s Financial Services Agency turning up the heat on its potential suitor, Sony Life Insurance Co.
The Japanese regulator was said to have been probing Sony Life after it found some employees were profiting from fraudulent life insurance contracts. It culminated in Sony being unable to execute its option to launch a $1 billion takeover by April 2018, which stemmed from a deal struck in 2016 with ClearView’s majority owner, Crescent Capital Partners.
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Michael Roddan is a Walkley Award-winning national correspondent based in Sydney. He is a former business and economics reporter for The Australian. Connect with Michael on Twitter. Email Michael at m.roddan@afr.com
