Australia's Private Health Insurers Benefit from Labor's Surprise Electoral Loss
Narrow-moat Medibank Private’s strong underlying performance for first-half fiscal 2019 was offset by a sharp drop in investment income, with NPAT of AUD 208 million down 15% on first half fiscal 2018 but up 4% on second-half fiscal 2018. Core businesses continue to deliver sound results with a small net increase in policyholder numbers, improved health insurance operating profit of AUD 282 million, and a strong uplift in Medibank Health operating profit to AUD 29 million. Despite lower investme...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.
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