nib NZ expects its insurance to be resilient in the face of rising cost of living

“When you think about what's happening now and in the next couple of years, particularly with interest rates going up,” people with mortgages are going to find their budgets squeezed,” says chief executive Rob Hennin.

“But we've seen the demand for health insurance has remained strong. If you think about that being discretionary, it's still being prioritised by households. You are getting a good return on your premiums,” Hennin says.

“Unlike life insurance, people are using health insurance on a regular basis.”

While nib is now also in the life insurance business, what Hennin likes to call live and living insurance, some of those policies also cover things such as trauma and income protection.