NobleOak Life Limited (ASX:NOL) has successfully completed the acquisition of trailing commissions and the 'FiftyUp Club' from RevTech Media Pty Ltd. This move is expected to be ROE accretive, providing access to 480,000 members without ongoing commission payments.
NobleOak Life's acquisition of the 'FiftyUp Club' from RevTech Media marks a strategic enhancement of its distribution capabilities and revenue streams. With access to 480,000 members, NobleOak aims to capitalize on its opportunity to target Australians over 50. This acquisition aligns with NobleOak's strategy of expanding its market reach and strengthening its direct-to-consumer model. The company's core values and commitment to delivering simple, valuable life insurance products remain central to its corporate philosophy. This acquisition is set to positively impact NobleOak's return on equity, reinforcing its financial standing and growth trajectory.
We have had a longstanding partnership with RevTech and are excited about the potential offered by the FiftyUp Club.