Chanticleer
Health insurers enjoy COVID-19 relief
Private operators in a sector dominated by four companies are experiencing a revival in fortunes thanks to the virus, but it might not last.
The 2021 financial year will go down as one of the best in years for the leading private health insurance companies thanks to lower claims, higher investment income and good customer retention.
COVID-19 proved to be positive for the profitability and membership growth of Medibank Private, NIB Holdings, BUPA and HCF, which account for about three-quarters of the sector’s $25 billion in annual premium income.
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