Morningstar | NIB’s 1H19 Result Highlights Challenges Facing Private Health Insurers
NIB Holdings Limited is an active and fast-growing private health insurer in Australia and New Zealand. Policyholders and insurance premiums are growing, complemented by attractive returns on equity. Australians benefit from free public hospital care, partly funded by a medical levy on individual taxable income. Approximately 54% of the 25 million population is covered by private health insurance because of taxation benefits, shorter wait times, a choice of doctor and hospital, and cover of ancillary health services. NIB demutualised and listed on the Australian Securities Exchange in 2007. It is Australia's fourth-largest health fund. Attractive long-term industry dynamics are supported by a growing population, government taxation incentives and penalties, and regulated pricing.NIB Holdings operates in five segments: Australian Residents Health Insurance, which consists of Co.'s main product offering within the Australian private health insurance industry; New Zealand Residents Health Insurance, which consists of Co.'s main product offering within the New Zealand private health insurance Industry; International (Inbound) Health Insurance, which consists of Co.'s offering of health insurance products for international students and workers; World Nomads Group, which consists of Co.'s distribution of travel insurance products; and NIB Options, which consists of Co.'s facilitation of access to cosmetic and dental treatment both overseas and in Australia.
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