nib to focus on growing group business

nib New Zealand premium revenue was up 9.6% to $87.6 million, while claims expenses increased 17.8% to $62.4 million.

nib New Zealand chief executive Rob Hennin said the first-half result was pleasing with the New Zealand business performing to expectations.

“A highlight of the New Zealand result was the significant improvement in underlying operating profit, which was up almost 200% on the same period last year to $8.4 million,” he said.

“We also added more than 21,000 net new customers to our business, primarily through our acquisition late last year of OnePath Life NZ book of policyholders and our own organic growth efforts.