• 20% growth in in-force premiums to $422.9m
• Maintained strong new business market share of 12.9%
• Underlying NPAT up 11% to $8.7m
• Reached inflexion point of net capital generation

NobleOak Life Ltd, Australia's fastest-growing and most awarded direct life insurer, has reported strong financial results for the first half of FY25. In-force premiums grew 20% to $422.9m, driven by an 8% increase in direct policy count to almost 51,000 and continued market share gains, with NobleOak now accounting for 9.1% of the direct in-force premium market. The company maintained a strong new business market share of 12.9%, well above its long-term target of 10%. Underlying NPAT increased 11% to $8.7m, reflecting margin stability and disciplined expense management. NobleOak has reached an inflexion point of net capital generation, with assets above the target capital level by $6.3m. This milestone will support accelerated organic growth, potential inorganic opportunities, and the potential for future dividends. The company continues to invest in brand, partnerships, innovation, and digital capabilities to drive long-term growth, while maintaining a focus on customer experience and regulatory compliance.

NobleOak expects to continue outperforming the market, maintaining strong financial discipline while investing for growth. The company is targeting further market share gains, margin stability, and digital enhancement to drive organic growth, while evaluating potential inorganic opportunities. NobleOak's sound capital position, with organic capital generation, supports accelerated growth and the potential for future dividends.

NobleOak is well-positioned for long-term success, with a focus on driving market share growth, maintaining margin stability, developing its team and digital capabilities, and executing its strategic initiatives. The company expects to continue outperforming the market and building a sustainable, profitable business.