Two of Australia’s leading insurance companies, Suncorp (ASX:SUN) and nib (ASX:NHF) have expanded their partnership to launch a new range of private health insurance products in Australia.
This new deal will enable customers to access health insurance under Suncorp Insurance from December, and AAMI Insurance (which is a Suncorp brand) from early 2017.
This marks Suncorp’s entry into the private health insurance market. These new products will be available from various Suncorp distribution channels, while nib will act as the underwriter, handle claims and provide admin support.
Suncorp posted a net profit of $1.05 billion at 30 June 2016.