MMC buys ClearView, Swanson becomes CEO

Purchased for nearly $200m

Vishal Teckchandani

Fri 26 Mar 2010

Financial services firm MMC Contrarian has agreed to purchase Bupa Australia's life insurance and wealth management businesses, MBF Life and ClearView Retirement Solutions, for $195 million.

In conjunction with the acqusition, MMC also said it has appointed former CommInsure chief executive Simon Swanson to lead MMC.

MMC's previous managing director, Alex Hutchinson, will become chief executive of MMC's wealth management and advice business with responsibility for the expanded businesses of ComCorp and ClearView.