NIB Holdings flags strong start to FY25
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The news: Health insurer NIB Holdings has flagged a strong start for its domestic business for the fiscal year-to-date.
The numbers: NIB said its Australian Residents Health Insurance (arhi) business recorded net growth of 52.9% in the first four months of the fiscal year. Domestic customer sign-ups were up 3.2% over that period.
Policyholder growth for the smaller International Inbound Health Insurance (iihi) and New Zealand businesses was more mixed, up 10.8% and 0.8% respectively.
The context: Outgoing chief executive Mark Fitzgibbon said the domestic Australian Residents Health Insurance (arhi) business achieved its strongest start to the year since FY2008. However, there was a mixed performance across the iihi, NZ and Travel businesses, while organic growth at its NDIS business Thrive was also below expectations.
NIB has previously outlined guidance for full-year policyholder growth of 3% to 4% and net margin of 6% to 7%.
The source: ASX announcement
