Financial Information

Results

Financial information

On 29 August 2008, nib announced its financial results for the 12 months to 30 June 2008. Normalised net profit after tax was $26.7 million, which was underpinned by strong policyholder growth, up 11.1% compared to 4.2% for the industry and a normalised net underwriting margin of 4.4%.

Significant one-off costs associated with nib’s demutualisation and listing resulted in a small statutory profit of $0.4 million for the period.

nib also declared a final dividend of 2.1 cents per share (fully franked), equating to a payout ratio of 40.7% and also confirmed that it will be undertaking an on-market share buy-back of up to 10% of issued shares.

Volatile investment markets resulted in low investment earnings for the full year. As a result, nib plans to carefully move to a more defensive investment asset allocation to reduce investment earnings volatility.

  • Click here for nib’s 2008 Full Year Results Media Release
  • Click here for nib’s 2008 Full Year Results Investor Presentation

nib 2008 Full Year Results (normalised) –
Overview as at 30 June 2008

Premium Revenue
Gross underwriting result
Net underwriting result
Investment income
Normalised net profit after tax
Gross Margin
Management expense ratio
Net margin
Investment return
Net assets

$758.2 million
$111.2 million
$33.0 million
$7.5 million
$26.7 million
14.7%
10.3%
4.4%
1.6%
$384.8 million

nib Customers

  

Policyholders
Persons covered
Policyholder growth
Market share
Hospital benefits paid
Ancillary benefits paid
Outstanding claims
provision movement
Retail Centres
nib employees (FTEs)

365,389
732, 930
11.1%
7.0%
$357.7 million
$187.2 million

$8.2 million
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