Australia's Helia Group falls on non-renewal of ING contract, start of business review

Helia

02/07/2025 02:03

** Shares of Helia Group HLI.AX down 23.5% at A$4.20, among top losers in the ASX 200 benchmark index .AXJO, which is up 0.4%

** Stock down as much as 28.5% to its lowest level since April 7

** The mortgage insurance provider updates that ING Bank (Australia) will proceed with negotiations with an alternate provider in relation to its Supply and Service contract, which is expiring on June 30, 2026

** Co starts comprehensive business review to consider the business response to the expected loss of new business from two significant customers, others

** About 1.2 million shares change hands, 1.7x 30-day average vol

** Stock down 31.6% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com;))