NIB Holdings Net profit for the year A $ 161.1 million, up 83%

By Alice Uribe

SYDNEY – The annual net income of NIB Holdings Ltd. rose 83%, with the private Australian health insurer increasing its dividend despite the disruption caused by the pandemic.

NIB reported net profit of A $ 161.1 million ($ 115.0 million) for the 12 months to June, up from A $ 87.9 million a year earlier.

Revenue from ordinary activities increased 5% to AU $ 2.64 billion, while the group’s underlying operating profit was AU $ 204.9 million, up 39.5 million %

Directors of the company declared a final dividend of AU $ 0.14 per share, up from AU $ 0.04 last year.

“Neither fiscal 2021 nor fiscal 2020 can be considered ‘normal’ given the fluctuations in healthcare utilization and claims experience,” said Managing Director Mark Fitzgibbon.

The NIB announced on Monday that it was returning eligible members an additional AUS $ 15 million in claims savings through an ex gratia payment.

Write to Alice Uribe at [email protected]

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