The chairman of financial services group ClearView has indicated he will be retiring from the board after seven years with the group.
Current independent non-executive director and chair of the board Bruce Edwards will be stepping down at the end of June.
The company has proposed the replacement chair will be fellow independent non-executive director Geoff Black.
The ClearView board in consultation with its nomination and remuneration committee has undertaken a market search for a new independent non-executive director.
The company made the statement along with a reassessment of the business in the current conditions, saying the group is “relatively conservatively positioned to ride out the coronavirus storm” and the board does not yet anticipate a need to raise capital.
ClearView said it has stress tested scenarios of its business over the next two years, commenting its regulatory capital position remains resilient, but its profitability will remain sensitive to claims and lapse assumptions in its life insurance business.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
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