• Strong in-force premium growth and continued market share gains
• Margin stability through sound pricing, robust underwriting and financial discipline
• Investments to enhance the customer experience and underwriting performance

NobleOak Life Limited (ASX: NOL), Australia's fastest growing direct life insurer, announced its half-year results for the six months ended 31 December 2024 (HY25). The company reported strong in-force premium growth of 20%, materially outpacing the industry, as it continued to gain market share. NobleOak maintained sound pricing, robust underwriting, and financial discipline, delivering an 11% increase in underlying net profit after tax (NPAT) to $8.7 million. The company's statutory reported NPAT was up 184% from the prior corresponding period to $8.3 million. NobleOak's regulatory capital position has strengthened as it generates capital organically, providing flexibility to invest in accelerating organic growth, pursue inorganic growth, and consider future dividends. In the Direct Channel, investment in digital marketing and alliance partnerships drove a 12% increase in in-force premiums to $96.2 million. The Strategic Partner channel continued to deliver strong growth, with in-force premiums growing 23% to $326.8 million. NobleOak remains focused on executing its diversified growth strategy, investing in innovation, and enhancing brand recognition through marketing campaigns.

NobleOak is on track to meet its guidance of approximately 15% annual in-force premium growth for the full year to 30 June 2025, in a market that is expected to grow by around 5%.

NobleOak expects to continue to outperform and achieve above-market in-force premium growth, driven by a high share of new business sales and better than market lapse rates. Higher interest rates remain a tailwind, benefiting investment returns, with inflation-linked premiums helping to mitigate inflationary pressures on costs and protect profit margins.