nib's 2008 full year results were
announced on 29 August 2008.
Final Dividend
On 15 September 2008, nib declared a final dividend of 2.1 cents per share (fully franked), equating to a payout ratio of 40.7% and also confirmed that it will be undertaking an on-market share buy-back of up to 10% of issued shares.
Normalised net profit after tax was $26.7 million, which was underpinned by strong policyholder growth, up 11.1% compared to 4.2% for the industry and a normalised net underwriting margin of 4.4%.
Significant one-off costs associated with nib’s demutualisation and listing resulted in a small statutory profit of $0.4 million for the period.
Volatile investment markets resulted in low investment earnings for the full year. As a result, nib plans to carefully move to a more defensive investment asset allocation to reduce investment earnings volatility.
2008 Full Year Results Presentation
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2008 Full Year Results Media Release
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