Nib NZ's first half profit nearly triples

Sun, 21 Feb 2016

By Sophie Boot Feb. 22 (BusinessDesk) - Nib Holdings' New Zealand unit nearly tripled operating profit in the first half of the current financial year as the ASX-listed insurer bolstered its local presence with the purchase of OnePath Life (NZ)'s medical business. New Zealand operating profit rose to A$7.8 million in the six months ended Dec. 31 from A$2.7 million a year earlier, the Sydney-based insurer said in a statement. Net New Zealand premium revenue rose 9.6 percent to A$79.9 million, accounting for about 8.6 percent of the group's...

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