ClearView Wealth says its life growth strategy is paying off as the business continues to gain market share.

MD Nadine Gooderick presented an upbeat outlook to investors last week at the Shaw & Partners Life Insurance Roundtable Series.

The group says new business volumes in the retail life market have grown for the past three quarters due to improving industry dynamics and financial adviser productivity.

ClearView achieved 55% growth in new business to $17.5 million in the first half of this financial year, giving it an 11% share of the market. At the end of June last year, its market share was 9%.

“Deep distribution relationships, acceptance of new product by advisers and data/analytics focus is driving new business market share gains,” Ms Gooderick said in her presentation.

“ClearView remains well positioned to continue to increase its new business share and to broaden its product offerings to adjunct products.”

ClearView says it has created a diversified distribution network with more than 1000 dealer groups comprised of 4000-plus advisers.

The group previously said it is aiming to grow its life insurance presence and it has taken steps to exit the financial adviser and wealth management businesses.

First-half results in February showed group underlying net profit after tax grew 37% to $17.3 million, including a 32% surge in life insurance underwriting net profit after tax to $19.4 million.