In a sector where the pool of insured members is getting older and riskier, how can insurers stay ahead of what looks to be an almost inevitable rise in claims costs while also lifting returns to shareholders?
NIB chief executive Mark Fitzgibbon sounded unusually subdued as he spoke with analysts and investors on Monday morning.
A 15 per cent profit downgrade will do that, of course. As will a 13.5 per cent fall in your share price in the space of a few hours. NIB shares were down at near 10-month lows at $5.68 around 12pm AEDST.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
