Speaking at nib’s AGM on Friday 18 November, the company’s chairman David Gordon, said it now provides health insurance to around 1.5 million Australian and New Zealand customers.
He said more than 6,000 New Zealanders signed up to the firm’s private health insurance plans during the 2022 financial year year – a client acquisition growth rate of more than 5%.
“Premium revenue was up 12.8 per cent to $291.8 million, driven by net policyholder growth, premium adjustments and favourable foreign exchange impacts,” said Gordon.
During the year, nib also acquired what is now nib NZ Insurance.
“The integration of our life and living insurance businesses is well underway, with those businesses performing well,” he said.
“Our future is aligned to what we term ‘your better health and wellbeing’. A purpose that rests comfortably on a foundation of helping members and travellers when they are sick and injured.”
During his speech, Gordon also thanked nib CEO Mark Fitzgibbon who celebrated 20 years at the firm this year.
Fitzgibbon joined nib in October 2002, has overseen its demutualisation, and – says Gordon – has transformed nib “…from a simple payer of claims to becoming a trusted partner in health”.
See our report: nib NZ to buy OrbitProtect