• nib Group delivered an underlying operating profit of $105.8 million, down 26.7% on 1H24
• Australian Resident Health Insurance (arhi) net margins returned to the 6-7% target range
• nib New Zealand reported an underlying operating loss of $10.1 million due to high industry-wide claims inflation

nib Holdings Ltd has reported its financial results for the half year ended 31 December 2024 (1H25). The nib Group delivered an underlying operating profit of $105.8 million, down 26.7% on the 1H24 result of $144.3 million. This was largely due to the return of Australian Resident Health Insurance (arhi) net margins back to the target range of 6-7% (1H25: 7.0%, 1H24: 9.7%) and a reduction in nib New Zealand's underlying operating profit due to higher than expected industry-wide claims inflation. Statutory operating profit for 1H25 was $86.8 million, a decrease of 32.5% from $128.6 million in 1H24. This was also impacted by the reduction in arhi margins and nib New Zealand's performance, as well as increased one-off costs relating to the integration of nib Thrive. The arhi business grew its policyholders by 3.3%, the International Inbound Health Insurance business had policyholder growth of 10.6%, while nib New Zealand's policyholder base declined 0.7% amidst challenging trading conditions. nib Travel reported an underlying operating profit of $1.9 million, down 53.7% compared to 1H24, while nib Thrive contributed $8.4 million in underlying operating profit to the 1H25 Group result. The nib Health Services segment reported a $3.2 million loss, a 71.9% improvement on the 1H24 loss of $11.4 million.

nib Group insurance revenue increased by 7.7% and incurred claims increased by 12.5% in 1H25 compared to 1H24.