Nib Holdings Ltd
(ASX:NHF) has delivered a strong set of 1H FY17 results. The company’s revenue was up 7.3% to $995 million, and its NPAT increased 65% to $71.1 million (compared to the prior corresponding period).
Taking into account only its core insurance business, Nib’s group underlying operating profit rose 43.4% to $95.2 million.
In addition, Nib’s statutory earnings per share jumped 65.7% to 16.4 cps in 1H FY17, and it declared a fully franked interim dividend of 8.5 cents per share. This is 47.8% higher than its previous interim dividend.
The company's Managing Director, Mark Fitzgibbon, says these results were bolstered by Nib accounting for over half of all industry policy growth in the first half of this financial year, and price competitiveness.
Mr Fitzgibbon also says a reason for Nib’s growth was its new partnerships with Qantas (to offer policyholders Frequent Flyer points) and Suncorp (to offer an expanded health insurance range).
