NIB Holdings (ASX: NHF) expects profitability to improve in travel insurance in FY24.

Mon 08 Jan 24, 11:37 AM | Team Kalkine

Highlights

NIB Holdings Limited (ASX: NHF) is an ASX-listed firm which offers medical and insurance to New Zealand and Australian residents. Also, the health insurance services provider offers its services to international workers and students in Australia. The New South Wales based company operates through multiple segments including Australian Residents Health Insurance (arhi), International Inbound Health Insurance (iihi), New Zealand (nib NZ), nib Thrive, and nib Travel.

The 3.66 billion market cap firm witnessed a 10.9% YoY increase in revenue to AUD 3.1 billion during the financial year 2023 (FY23). During the stated period, underlying operating profit grew by 11.1% YoY to AUD 263.2 million, net profit after tax increased by 42.8% YoY and dividend grew by 27.3% annually.

In FY23, arhi business of NHF delivered highest sales and net policyholder growth in over eight years.

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