nib New Zealand makes $21.2million underlying operating profit in FY24

Written By Kelly O

nib new Zealand have released their FY24 financial results. Key numbers include:

  • Underlying operating profit of $21.2 million, down from $33.4 million in FY23

  • Resident policyholder growth of 3.1%

  • Insurance revenue of $402.1 million, up 9.4% from FY23

  • Insurance service costs of $380 million, up 14% from FY23

  • Net assets of $91.8 million, up from $84.6 million in FY23

nib NZ Chief Executive Rob Hennin said of higher claims costs and utilisation rates

 “We are focused on costs and containing inflation in the health sector as much as we can because those costs are passed along to our members… We have undertaken measures to help bring about operating efficiencies in the year ahead, including automating claims processing.”

 

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Kelly O
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