Citi says Australia's NIB to benefit from robust health insurance sales

NIB Holdings

07/11/2024 22:16

** Brokerage Citi says Australia's NIB Holdings'  NHF.AX 
annual results hinted at a strong start to the new year, with
NIB experiencing its best Australian Residents Health Insurance
(Arhi) sales performance through October since fiscal 2008    
    ** Brokerage retains "neutral" rating and PT of A$6.55
    ** Health insurance provider says its Arhi operation has
shown robust growth
    ** Citi, however, says company's 3% to 4% FY25 growth target
for the NZ business looks more challenging as it registered only
a 0.8% growth from June to October
        ** Adds insurer's Nib Thrive facility, a plan manager
under the National Disability Insurance Scheme, sees fall in
participants since June
    ** NHF down 18.8% YTD as of last close vs 28.5% jump on the
ASX Financials index  .AXFJ 

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))