Major health insurer Nib’s profit plunges 40% – NEWS.com.au

Insurance group Nib says the coronavirus pandemic has generated challenging conditions for the health insurance market, with the groups profit sliding by more than a third. The major Australian health insurer posted a net profit of $90.1 million for the 12 months ending June 30, a 40 per cent, or $59.7 million plunge compared with financial year 2019.
Nib managing director Mark Fitzgibbon said the onset of the pandemic had “blurred” progress made within the company’s Australian health insurance…

Click here to view the original article.