nib boosts profit

The health insurer recorded a profit of $11.5 million in this country for the six months ended December 31.

New Zealand premium revenue rose by more than a quarter to $105.1 million.

Chief executive Rob Hennin said the New Zealand-based operations were tracking well for the full year on the back of a recent acquisition and strong customer sales.

“The acquisition of OnePath health in late 2015 has provided our business with additional leverage and scale. It’s added a further 20,000 customers to our book of business which has definitely provided additional momentum and had a positive impact on our first half underwriting performance,” Hennin said.