Nib New Zealand’s first half result for the 2024 financial year shows net premium revenue at $197m, up from $179.7m in the previous corresponding period. This has been driven by private health insurance policyholder growth of 3.7%, says the firm.
“We have reported a solid first-half result and are positioned well for the full year,” said nib New Zealand CEO Rob Hennin.
“Nib NZ has continued to see strong growth in resident private health insurance policyholders, and we have seen positive contributions from our international student, worker and traveller insurance business OrbitProtect and life and living insurance business nib nz insurance limited.”
The firm reported an underlying operating profit of $13.2m for first half 2024 compared to $18.2m in first half 2023, which was inflated by a one-off deferred acquisition cost adjustment.
The firm’s Chair Tony Ryall said the business continues to grow strongly and deliver real value to customers despite the uncertainty over the economic outlook and ongoing cost pressures.
“We understand the cost-of-living pressures many people in the community face, and we are committed to ensuring we continue to deliver value for nib members,” Ryall said.