Clearview Wealth (Clearview) will no longer be classified as a diversified financial group after being issued a new global industry classification standard (GICS) code by Standard & Poor's.
From 1 October, Clearview will be classed under the insurance sector.
The change in code better reflects the company's shift from a financial services group into an insurance and wealth manager, Clearview managing director Simon Swanson said.
"The new GICS code more appropriately classifies the nature of our business post the acquisition of Bupa Australia's life insurance and wealth management business," Swanson said.
"This new classification should help the investment community better analyse Clearview by grouping it with its industry peers."
In June this year, Clearview moved into a life insurance and wealth management business when MMC Contrarian purchased MBF Life and Clearview Retirement Solutions from Bupa Australia.
The acquisition created Clearview Life Assurance, the main subsidiary of Clearview.
Clearview manages $3.1 billion of client assets and has in-force premiums of around $40 million.
