Business
Medibank profit slides as claims expenses increase; Wilkins named as new chair – Sydney Morning Herald
The $8 billion private health insurer says the savings some predicted at the start of the pandemic haven’t eventuated.
Ms Alexander had served as chairman since March 2013 and said she was proud to have overseen Medibank’s transition to life as a listed company.
The $8 billion health fund reported premium revenues up 1.3 per cent for the year to $6.5 billion.
Net profit after tax from all operations, both continuing and non-continuing, decreased 31 per cent to $315 million. This was impacted by a reduction in operating profit for health insurance claims, which decreased 13 per cent to $470.6 million.
Medibank…
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