The dual-brand customer-focused strategy supports earnings growth despite soft policyholder growth.
Narrow moat-rated Medibank Private’s impressive 2016 adjusted profit of AUD 427 million beat our forecast and consensus by 6%, but the outlook for growth looks soft. Reported profit increased 46% to AUD 418 million while adjusted NPAT increased 47% from fiscal 2015 with EPS of AUD 15.5 cents up 46%. Operating earnings in the key health insurance business increased 55% to AUD 511 million, exceeding guidance of approximately AUD 470 million. The strong performance is due to flat claims and underwr...Medibank Private is a private health insurer. Co.'s main business is Health Insurance, whereby it underwrites and distributes private health insurance policies under two brands, Medibank and ahm. Co. has two segments, Health Insurance, which provides private health insurance products including hospital cover and extras cover, as stand-alone products or packaged products that combine the two and also provides health insurance products to overseas visitors and students; and Complementary Services, which include activities such as contracting with government and corporate customers to provide health management services, as well as providing telehealth services in Australia and New Zealand.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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