Their rationale as to why it is not price sensitive is valid. Short term fluctuations in claims experience that have not yet changed their long-term assumptions.
If they need to change their long-term assumptions, they will reprice the back book thus restoring profit margins.
Considering the quality of income protection policies pre-21 are substantially superior to post 21 policies, many customers will accept these price reasons within reason.
Market has over-reacted, great opportunity to accumulate.
CVW Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
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