The company operates in six segments: Australian Residents Health Insurance, International (Inbound) Health Insurance, New Zealand Insurance, nib Travel, nib Thrive, and nib Health Services. Given underlying increases in average premium rates of around 5-6% p.a. and some policyholder growth, nib offers close to double-digit underlying growth in the medium term.
Cyborg Score Rationale
nib demonstrates solid fundamentals with consistent premium growth, diversified revenue streams across six segments, and strategic positioning in growing health insurance markets. A cost-out strategy improves the company's expense ratio, supporting margin expansion.
Top Insights
Premium rates growing 5-6% annually with double-digit medium-term growth potential
Digital marketplace platform provider under the NDIS creates recurring revenue stream
Strong presence in international student segment with 180,000+ customers representing growth opportunity
Intensifying competition among top 6 players poses risk to policy growth and earnings
Named Competitors
Medibank Private Limited — Major Australian health insurance provider
AustralianSuper Health Insurance — Super fund-affiliated health insurer
Bupa Australia — International health insurance operator
Recent Developments
(February 2026) Share price trading at AUD 6.38, down 2.45% from previous close
(January 2026) 20 analysts cover the stock with active consensus estimates
(October 2024) Released 2024 Annual Report
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