Nib's NZ earnings rise 20% on smaller claims bill, fewer premium paybacks

Sun, 18 Feb 2018

By Paul McBeth Feb. 19 (BusinessDesk) - Nib Holdings' New Zealand unit boosted first-half profit as the health insurer paid out fewer claims than a year earlier and had a smaller premium payback bill on its product which reimburses policyholders the difference between premiums received and claims paid. Underlying operating earnings rose to A$13.1 million in the six months ended Dec. 31 from A$10.9 million a year earlier, the Sydney-based insurer said in a statement. Revenue shrank 2.5 percent to A$97.5 million due to foreign exchange mov...

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