ClearView Wealth finalised the sale of around 39.56 million shares in Centrepoint Alliance (ASX:CAF) to COG Financial Services (ASX:COG) at a share price of 33 cents each, totalling $13.1 million.

The transaction constitutes approximately 19.9% of Centrepoint's current issued capital.

ClearView initially acquired a 24.5% stake in Centrepoint in November 2021, as part of the agreement for the sale of its financial advice businesses.

However, due to ClearView's exclusive focus on life insurance, it has decided to divest its strategic investment in Centrepoint.