nib holdings (ASX:NHF) report their capital position is ahead of requirements

Company News

by Rachael Jones

nib holdings (ASX:NHF) has confirmed its forecast capital position remains well ahead of regulatory requirements and internal targets.

This is also allowing for the Australian Prudential Regulation Authority’s (APRA) announcement this week on the need for private health insurers to provision in FY20 for a presumed “catch up” in treatment and claims.

In a letter to private health insurers, APRA directed capital requirements allow, as a general liability, an expectation of hospital and allied (e.g. dental) treatment deferred during the course of COVID-19 to now occur during the course of FY21.

Shares in nib holdings (ASX:NHF) are trading 3.02 per cent higher at $4.77.