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CENTURIA CAPITAL GROUP — Capital/Financing Update 2014
Sep 30, 2014
64677_rns_2014-09-30_ed11c2b4-6bbe-4559-a0a3-5e05f9426d85.pdf
Capital/Financing Update
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1 October 2014
Australian Securities Exchange Company Announcements Platform
Centuria Capital Limited – Market Update
Sale of Over Fifty Insurance Agency
Centuria Capital Limited (ASX code: “CNI”) announces the exchange and settlement of the sale of all the shares in its subsidiary, Over Fifty Insurance Pty Ltd “OFI”, to National Seniors Australia Limited for $5.2 million.
OFI distributes a range of general insurance products targeted at the over fifty demographic including home, motor vehicle, travel and boat insurance and had 21,800 policyholders as at 1 February 2014. National Seniors is Australia’s leading organisation for the over fifty’s and the OFI business will join the range of insurance products offered by the group.
Group CEO John McBain commented;
“Following a strategic review of the insurance division, CNI has designated this business as non-core and the sale is a component of CNI’s previously announced strategy of releasing capital to support the growth of the core property funds management and investment bond businesses.”
“CNI is pleased that the business has been sold to an operator with deep experience servicing the over fifty community and policyholders will be unaffected by the sale.”
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For more information or to arrange an interview, please contact:
Matthew Coy Company Secretary/Chief Financial Officer Centuria Capital Phone: 02 8923 8923 / 0412 557 224 Email: [email protected]
John McBain Group CEO Centuria Capital Phone: 02 8923 8923 / 0417 868 869 Email: [email protected]
Alicia Eu Senior Account Executive BlueChip Communication Phone: 02 9018 8603 / 0412 552 004 Email: [email protected]
About Us
Centuria Capital “CNI” is an ASX-listed specialist investment manager with $2 billion in funds under management. We offer a diverse range of investment opportunities – from tax-effective investment bonds to unlisted property funds. Our drive, allied with our inside knowledge of the sector and intimate understanding of our clients, allows us to transform opportunities into rewarding investments.