External broker reports(aggregated public sources), Taylor Collison

Taylor Collison

External broker reports(aggregated public sources)

Taylor Collison is a leading financial services firm, providing advice & wealth creation strategies to private & institutional investors and corporate clients throughout Australia. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Crescent Capital’s recent sell down of ~11.2% of the free float in CVW has added some much-needed liquidity.</li><li>While a significant overhang remains, we believe CVW’s discount to its embedded value is more likely to close as liquidity continues to improve.</li><li>The discount to embedded value is now 37% (EV/share at 9% discount rate of $0.88).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Crescent Capital’s recent sell down of ~11.2% of the free float in CVW has added some much-needed liquidity.While a significant overhang remains, we believe CVW’s discount to its embedded value is more likely to close as liquidity continues to improve.The discount to embedded value is now 37% (EV/share at 9% discount rate of $0.88).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ClearView Wealth Limited (CVW) - Crescent Selldown Creates Liquidity & 3Q24 Update

<ul><li>CVW’s share price relative to its embedded value per share has continued to widen, now trading at a 33% discount (EV/share at 9% discount rate of $0.88).</li><li>This is despite CVW: Gaining new business market share – now at 10.9% (up from 9.2%)</li><li>Growing gross premium income (revenue) 12.5%. Growing underlying net profit 37%</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CVW’s share price relative to its embedded value per share has continued to widen, now trading at a 33% discount (EV/share at 9% discount rate of $0.88).This is despite CVW: Gaining new business market share – now at 10.9% (up from 9.2%)Growing gross premium income (revenue) 12.5%. Growing underlying net profit 37%Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ClearView Wealth Limited (CVW) - 1H24 Update – Discount to Embedded Value and Growing

<ul><li>ClearView is currently winning 11% of all new life insurance business sold through advisers – a $10b market which has grown at a ~5% CAGR historically.</li><li>Its current total market share is just 3.2%, paving a path for a 3x uplift in book size over the long term.</li><li>Despite posting 9% growth in FY23, CVW trades at a 25% discount to embedded value (ex. future growth), and a 40% discount to our estimate of fair value (inc. future growth), while offering a ~5% dividend yield. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ClearView is currently winning 11% of all new life insurance business sold through advisers – a $10b market which has grown at a ~5% CAGR historically.Its current total market share is just 3.2%, paving a path for a 3x uplift in book size over the long term.Despite posting 9% growth in FY23, CVW trades at a 25% discount to embedded value (ex. future growth), and a 40% discount to our estimate of fair value (inc. future growth), while offering a ~5% dividend yield. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ClearView Wealth Limited (CVW) - Initiation - Discount to Embedded Value & Winning Share

Australia

ClearView Wealth Limited of Australia operates as a diversified financial services company that specializes in life insurance, wealth management, and financial advice solutions. The Group partners with financial advisers to help more Australians grow and protect their wealth and achieve their financial goals.

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Clearview Wealth (CVW AU)

ClearView Wealth Limited (CVW) - Crescent Selldown Creates Liquidity & 3Q24 Update

While a significant overhang remains, we believe CVW’s discount to its embedded value is more likely to close as liquidity continues to improve.

Taylor Collison

ClearView Wealth Limited (CVW) - 1H24 Update – Discount to Embedded Value and Growing

CVW’s share price relative to its embedded value per share has continued to widen, now trading at a 33% discount (EV/share at 9% discount rate of...

Taylor Collison

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52-week Range

Market Cap (USDm)

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ClearView Wealth Limited (CVW) - Crescent Selldown Creates Liquidity & 3Q24 Update

While a significant overhang remains, we believe CVW’s discount to its embedded value is more likely to close as liquidity continues to improve.

Taylor Collison

ClearView Wealth Limited (CVW) - 1H24 Update – Discount to Embedded Value and Growing

CVW’s share price relative to its embedded value per share has continued to widen, now trading at a 33% discount (EV/share at 9% discount rate of...

Taylor Collison

ClearView Wealth Limited (CVW) - Initiation - Discount to Embedded Value & Winning Share

ClearView is currently winning 11% of all new life insurance business sold through advisers – a $10b market which has grown at a ~5% CAGR...

Taylor Collison