Nib NZ reverses Tower Medical’s decline by chasing younger insurance customers

Sun, 23 Feb 2014

By Suze Metherell Feb. 24 (BusinessDesk) – Nib New Zealand, which acquired Tower Medical Insurance late 2012 to become New Zealand’s second-largest health insurer, says it has halted Tower’s customer losses, achieving modest growth by targeting the under 40s market. The local arm of the listed Australian insurance company contributed $3.5 million to its parent’s first-half pretax earnings from underwriting in the six months ended Dec. 31. Sydney-based nib Holdings separately reported interim net profit rose 9.2 percent to A$39.6 million a...

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