tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, May 17th, 8:01PM

Insurance

rss
Latest Headlines

nib to focus on growing group business

nib holdings limited has announced its New Zealand operations contributed $8.4 million the group’s underlying operating profit in the six months to the end of last year.

Monday, February 22nd 2016, 10:58AM

nib New Zealand premium revenue was up 9.6% to $87.6 million, while claims expenses increased 17.8% to $62.4 million.

nib New Zealand chief executive Rob Hennin said the first-half result was pleasing with the New Zealand business performing to expectations.

“A highlight of the New Zealand result was the significant improvement in underlying operating profit, which was up almost 200% on the same period last year to $8.4 million,” he said.

“We also added more than 21,000 net new customers to our business, primarily through our acquisition late last year of OnePath Life NZ book of policyholders and our own organic growth efforts.

“We expect policyholder growth to track positively for the remainder of the year due to our continued investment in advertising and marketing, as well as a renewed effort to re-enter the group health insurance market.”

Hennin said 50% of all health insurance in New Zealand was sold via employer groups, and nib had been historically under-represented in this market segment.

“Traditionally, our business has been very strong in the financial adviser space and more recently the direct-to-consumer market. While we will continue to concentrate on these channels, we now have a renewed focus on gaining a larger share of the group market,” Hennin said.

nib has developed a suite of new products specifically designed for the group market, which are supported by an online employee wellness program called MyHealth HQ.

“We have spent a considerable amount of time and effort understanding what employers and their employees want from their health insurance partner. Providing great value health insurance is just one piece of the value proposition, but just as importantly employers want a partner to help manage the health and wellness of their workforce,” Hennin said.

Tags: nib

« AMP plans no premium increases this yearWebsite wants to entice young recruits »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Partners first life company to cloud platform
Partners Life completes first stage of the company's claims transformation journey.

Celebrating Earth Day
Insurer takes early step on sustainability journey.

Fidelity Life launches new-look claims content
Fidelity rolls out education material to help explain insurance.

Health insurer response times balloon out
Accuro says its response times have become much longer as it implements a new system.

News Bites
Latest Comments
  • Brian Gaynor dies
    “RIP - a true icon and such a humble person who helped so many....”
    1 day ago by p simone
  • Brian Gaynor dies
    “Very sad. Condolences to him family....”
    1 day ago by sanet.drury@gmail.com
  • Brian Gaynor dies
    “Brian was someone you would always go and listen to if he was presenting at a seminar or conference, someone you would always...”
    1 day ago by MikeBeuvink
  • Brian Gaynor dies
    “A true champion of the industry. My sincere condolences to family, colleagues and friends. ...”
    1 day ago by Pragmatic
  • [GRTV] AIA rolls out direct life insurance plans
    “Thanks Lifeadviser1, and it is great to see you have been having a play in the system. You are right, in the original...”
    1 day ago by Sam.Tremethick
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com
x