Nib NZ first-half earnings slide 30% as claims outpace policy growth

Sun, 17 Feb 2019

By Paul McBeth Feb. 18 (BusinessDesk) - Nib New Zealand posted a 30 percent slide in first-half profit as the local arm of the Australian health insurer's claims bill rose at a faster pace than it could win new policyholders. Underlying earnings fell to $10 million in the six months through December, as it paid out $69 million in claims, up 9 percent from a year earlier. Premium revenue rose 6.2 percent to $113 million, with a 1.7 percent gain in policyholders to 104,399. In Australian dollar terms, underlying earnings fell to A$9.5 mill...

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