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