Australia's NIB hits 2-week low on premium hike deferral

NIB Holdings

27/06/2023 02:24

** Shares of Australian health insurer NIB Holdings  NHF.AX 
slide as much as 1.4% to A$8.380, their lowest since June 13 
    ** Co says it has postponed its annual health insurance
premium hike once again as claims continue to weigh after the
COVID-19 pandemic 
    ** Says premium increase, which was initially expected to
take effect on April 1, has now been postponed to Oct. 1 
    ** Adds the 2023 increase, at 2.72%, is NIB's second-lowest
premium price rise in 20 years, after a 2.66% increase in 2022
    ** Stock up 9.6% this year, as of last close, vs a 0.6%
increase in the benchmark S&P/ASX 200 index  .AXJO 

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))