The NIB Holdings Limited (ASX: NHF) share price is down 4.4% in reaction to calls for a private health insurance inquiry.
NIB is one of the ASX’s largest private health insurers, it was founded in 1952. NIB provides health and medical insurance to over 1.5 million Australian and New Zealand residents. NIB also provide health insurance to more than 160,000 international students and workers in Australia. It’s also Australia’s third largest travel insurer and global distributor of travel insurance through its World Nomads Group business.
NIB Suffers From Inquiry Calls
According to the Sydney Morning Herald, the director of the health program at The Grattan Institute, Stephen Duckett, has called on the government to look at the private health insurance sector because premiums continue to increase faster than wages with falling membership rates.
The Australian Financial Review also reported that broker Goldman Sachs has given the insurance business a ‘sell’ rating and thinks the share price will fall to $5.63 over the next 12 months.
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.