Nib New Zealand’s operating performance for the 12 months to 30 June 2020 shows a rise in membership, revenue, and earnings.
The company’s premium revenue grew 10.2% to $253.1 million to June while its underwriting result was $25.9 million, up 11.2% on last year.
The underwriting result includes $9 million for healthcare treatment it expects to fund over the next 12 months that was deferred during the peak of the Covid-19 pandemic.
Nib’s membership in New Zealand has increased from 213,061 in the 2019 June year to 226,925.
The company’s CEO, Rob Hennin, says the pandemic has heightened consumer awareness of the importance of health.
So far the company has provided more than 2,000 members with access to financial hardship support, including premium relief and suspension options, postponed premium increases for over 50,000 members and extended coverage for Covid-19 related treatment across all levels of hospital cover, at no extra cost.