For H1FY17, NIB Holdings Ltd Ongoing investments to impact near term profitability
Ongoing investments to impact near term profitability: For H1FY17, NIB Holdings Ltd (ASX: NHF) reported a revenue growth of 7.3% to $995.0 million driven by ARHI (Australian Residents Health Insurance) premium revenue of $829.8m (up 6.2%) as it contributes to 83.4% of total group revenue. Group underlying operating profit and statutory operating profit grew by 43.4%, 53.3% to $95.2 million, $90.9 million, respectively on account of strong gross margins led by favorable claims environment. International (inbound) health insurance premium segment witnessed a strong policy holder growth of 14% year on year (yoy), however, revenue from the same segment declined by 13.5% yoy due to non-renewal of a large part of unprofitable student business accounts from 1 March 2016. NIB’s adjacent businesses, which include international (inbound) health insurance (international students and workers), New Zealand and World Nomads Group (WNG) travel insurance businesses contribution to group earnings (UOP) continue to grow by 56.7% yoy to $25.7 million in H1FY17.
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