The sale comes because the well being insurer refocuses on its core operations. Group CEO Ed Shut has harassed the significance of specializing in segments that assist sustainable progress. Within the first half of FY25, working revenue fell sharply, dropping 26.7% to A$105.8 million partly from softer returns in its Australian medical insurance ebook and losses in New Zealand. NIB’s New Zealand unit recorded a NZ$10.9 million working loss, as price pressures and excessive claims inflation (17.6%) proceed to erode margins.
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