Health insurer NIB Holdings expects claims growth to remain subdued through the rest of the year before arriving at some kind of “new normal” in 2023, as better-than-expected policyholder growth drives strong underlying earnings.
NIB said full-year profit fell on its investments, but the underlying result was higher after more people took out policies, and medical insurance claims remained muted because of the COVID-19 pandemic.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
