Australia's Helia Group slumps on flagging potential loss of CBA contract

Helia

24/03/2025 24:16

** Shares of Helia Group HLI.AX fall as much as 29.3% to A$3.43, their lowest level since August 9, 2024

** Stock on track for weakest trading session since March 19, 2020

** HLI among top losers on the ASX 200 benchmark .AXJO

** The mortgage insurance provider anticipates its current supply and service contract with Commonwealth Bank of Australia CBA.AX might not get renewed after December 31, 2025

** The co has been informed by CBA that the bank has entered exclusive negotiations with an alternative provider for the provision of lenders mortgage insurance (LMI) services

** About 2.3 mln HLI shares change hands, vs the 30-day average of 1.5 mln

 (Reporting by Sneha Kumar in Bengaluru)

 ((Sneha.Kumar@thomsonreuters.com;))