• Group revenue of $3.6 billion, up 7.8% from FY24
• Net profit after tax (NPAT) of $198.6 million, up 9.4% from FY24
• Continued strong performance in Australian private health insurance (arhi) business

nib Holdings Ltd (ASX: NHF) announced its FY25 results, reporting a Group underlying operating profit (UOP) of $239.2 million, down from $257.5 million in FY24, but in line with guidance. Group revenue grew to $3.6 billion, an increase of 7.8% from $3.3 billion in FY24. Net profit after tax (NPAT) was $198.6 million, a 9.4% increase on $181.6 million in FY24. The company's Australian residents' health insurance (arhi) business, which includes its international students and workers segment, continued to perform strongly, with policyholder growth of 3.2% and insurance revenue of $2.8 billion, up 7.3% on FY24. Claims experience was effectively managed, supported by premium increases and increased value for customers through healthcare provider networks and agreements. The company's international students and workers business also delivered a strong performance, with UOP of $30.5 million, up 23.0% on FY24. In New Zealand, the business suffered a $10.1 million loss in 1H25 due to high claims inflation, but returned to profitability in 2H25. nib's adjacent businesses, including nib Travel, nib Thrive, and nib Health Services, also contributed positively to the group's performance. The company announced a full-year dividend of 29.0 cents per share, fully franked.

nib Group is targeting above-system arhi net policyholder growth of ~3% and a stable full year underlying net margin in the 6-7% range for FY26. The company's international students and workers business is expected to continue contributing strongly to Group UOP, while New Zealand is on track for full-year profitability in FY26.

nib is focused on strengthening its core private health insurance business, driving productivity gains, and delivering improved customer value through digital and AI initiatives. The company's non-private health insurance businesses, such as nib Health Services, are also expected to contribute to the group's performance, with nib Thrive targeting ongoing growth and further operating efficiencies.