Aussie health insurer NIB defers premium hike yet again (updated)

NIB Holdings

27/06/2023 24:48

(Adds details on deferral in paragraphs 3-5, CEO quote in
paragraph 6)
       June 27 (Reuters) - Australian insurer NIB Holdings Ltd
 NHF.AX  postponed its annual health insurance premium hike yet
again on Tuesday, as claims continued to languish in the
aftermath of the COVID-19 pandemic. 
    The premium increase was initially expected to take effect
on April 1, but has now been postponed a couple of times to Oct.
1.
    "The deferral, which affects more than 651,000 members, is
one of a range of measures NIB has provided following a slowdown
in claims due to the impact of COVID-19," the company said in a
statement.
    NIB added that the 2023 increase, at 2.72%, is NIB's
second-lowest premium price rise in 20 years, after a 2.66%
increase in 2022.
    The insurer said that its Australian residents' health
insurance (ARHI) business continued to perform well. 
    "Ancillary claims are returning to normal and hospital
claims are rising slowly," NIB CEO and Managing Director Mark
Fitzgibbon said.
    

 (Reporting by Harish Sridharan in Bengaluru; Editing by Shweta
Agarwal and Rashmi Aich)
 ((Harish.Sridharan@thomsonreuters.com; Twitter: https://twitter.com/damnit_saladin;))