Health insurer NIB Holdings said the trend toward private cover after the pandemic continued into the December half year, lifting earnings to a record as it looks to build new revenue streams out of the burgeoning National Disability Insurance Scheme.
Chief executive Mark Fitzgibbon said he was surprised by the sell-off seen on Monday, with investors punishing the stock as its margins – elevated by the COVID-19 pandemic – started to soften.
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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
