ClearView Wealth has reported a 26% increase in new life business to $34.5 million for the year to June 30, with a 32% rise in inforce premium to $115.7 million.

The financial services group says it has successfully concluded a three-year strategy to build market position in life insurance, wealth management and financial advice, and has established a strong platform to drive momentum.

Underlying net profit was $20.5 million, up 4% on the previous year.

MD Simon Swanson says the year included the successful merger and integration of Matrix, an upgrade to the LifeSolutions product range and the successful introduction of WealthFoundations.

“The initial phases of our investment are now complete, with material earnings growth expected to emerge in 2015/16,” he said.